Volkswagen Plans To Expand Chattanooga Plant In US To Focus On EVs: Reuters

  • Volkswagen AG VWAGY plans to expand its Chattanooga plant in the U.S. to produce an electric pick-up and the new ID.Buzz microbus, Reuters reported.
  • The move is expected to grow the company’s market share in North America.
  • The carmaker plans to invest at least $7.1 billion over the next five years in North America and add 25 new electric vehicles there by 2030.
  • The report noted that the Chattanooga plant, Volkswagen’s only plant in the U.S., commenced pilot production of the ID.4 electric crossover in March in preparation for a fall launch.
  • Price Action: VWAGY shares closed higher by 0.53% at $21.67 on Wednesday.
  • Photo Via Wikimedia Commons

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