Volkswagen to Invest €460 mn in Wolfsburg site in Preparation of new ID.3

Volkswagen is to invest €460 million in the main factory at the group headquarters in Wolflburg, Germany, by the beginning of 2025. The investment is primarily earmarked for preparations to produce the new ID.3.

The compact electric car will be leaving the assembly line in Wolfsburg from 2023 – initially in partial production, with full production slated from 2024.

Ramp-up is due for completion by the end of 2025.

A further all-electric model for the SUV segment will boost capacity utilisation for EV production over the long term.

The new model will be built on VW's Modular Electric Drive System (MEB).

Volkswagen will use the MEB+, the further development of the successful MEB e-car platform, for the e-SUV.

The company's Trinity vehicle project will remain in Wolfsburg.

Thomas Schäfer, CEO of the Volkswagen brand and Group Board Member for the Volume brand group, says: “Volkswagen stands for electromobility for everyone. And Wolfsburg will be part of this success story. Here at our main plant alone, we will be investing some €460 million by the beginning of 2025, getting the factory ready for the MEB. The ID.3⁰¹ ramp-up is the first important step towards the electrification of our main plant. At the same time, we are working closely with the Works Council to bring a further electric model based on the MEB+ to Wolfsburg – this will be a high-volume model for the booming SUV segment. With these strong decisions and investments, we intend to bolster the competitiveness of this factory further and give the workforce a concrete long-term perspective.”

He adds: “The MEB still has significant potential. Our ambition is to take this platform to the next level. To that end, we are making substantial investments in advancing this technology. The MEB+ puts us in an excellent position for the coming years.” Back in 2020, analysts conducted an in-depth study of Volkswagen’s electric platform, and concluded that it is the “most impressive solution available from an established motor company.”

By the end of 2033 at the latest, the Volkswagen brand will only build electric cars in Wolfsburg - as in all of its other factories in Europe.