The plant will begin construction in 2030.
Volkswagen is changing its strategy to try and catch up to Tesla as quickly as possible.
Oliver Blume, the new CEO of BMW, has decided to stop building a large new plant in his plan to clean up the German car company.
This plant was to be built in Wolfsburg, Germany for the production and sale of the iconic energy-efficient Trinity electric vehicle. Construction was expected to begin in 2023 and finish in 2026. Volkswagen would have spent 2.2 billion euros on the facility.
After joining the company, the new chief took over optimization. He has closed Argo, which was a project that developed technology for unmanned vehicles. Blume now says he wants to delay construction. Volkswagen is not going to abandon its plans for the plant, but they are now looking to build a factory by the end of the ten-year period.
Herbert Diess, the company’s former CEO, repeatedly stated that Volkswagen must be more like Tesla to succeed in a changing marketplace. Although it is not clear what the new CEO will see, Volkswagen won’t build its own gigafactory.