By Cristina Roca
Volkswagen AG (VOW.XE) said Monday that it will invest 700 million euros ($802.3 million) to expand a plant in the U.S. for the production of its new-generation electric cars.
The car maker said it is investing in a plant in Chattanooga, Tennessee, where it expects to generate up to 1,000 new jobs in addition to extra jobs at suppliers.
Volkswagen expects the first electric car to roll off production in Chattanooga in 2022, it said in a press release.
The move is part of a plan to sell more than one million electric cars a year by 2025.
The auto maker said that over the next few years it will develop eight plants in Europe, North America and China for the production of its new-generation electric cars.
Write to Cristina Roca at email@example.com; @_cristinaroca
(END) Dow Jones Newswires
January 14, 2019 11:09 ET (16:09 GMT)
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