German automaker Volkswagen is converting its facility in Zwickau, Germany to produce electric vehicles (EVs) with an investment of €1.2bn ($1.4bn).
The carmaker will produce its all-electric ID line of models at this plant, with a production capacity of 300,000 units in 2021. The carmaker has said that the move was in line with its plan to produce one million EVs by 2025.
The company stated that the conversion will be completed by the end of this year, making it the largest EV factory in Europe. A few units of the Volkswagen ID.3 have already begun to roll out of the facility.
Volkswagen indicated that it was also preparing its factories in Foshan, China, and Chattanooga, Tennessee to produce similar volumes of EVs per year.