Major car brand delays new European factory amid slowing EV demand
A MAJOR car brand has delayed the opening of its new European factory because of a drop in popularity of electric cars.
Volkswagen had been looking at opening a fourth battery factory site in eastern – but now have put it off because of a lag in demand for EV’s.
The car giants had been considering locations in the Czech Republic, Hungary, Poland or Slovakia.
Czech Officals had been pushing for a decision to be made – but on Wednesday Chairman Oliver Blume said they will not be moving forward with the project.
The Czech Republic will now be offering up their proposed site to other investors.
Czech Prime Minister Petr Fiala said: “We cannot continue to hold the land for this project.”
Volkswagen has already selected sites for battery cell production in Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada.
It comes as industry giant VW recently announced it will phase out one of its most popular petrol cars as it focuses on producing EVs in the future.
Chief Thomas Schafer confirmed that the company does not plan to develop another internal-combustion-powered model of the legendary Golf.
Meanwhile, an Italian luxury car manufacturer discontinued some of its most popular motors amid a lull in sale as the cost of living crisis bites.
Maserati confirmed that their Quattroporte sedan and V8 Ghibli models will be scrapped at the end of the year.