King Felipe will be in the Valencia region on Friday to preside over the opening ceremony of the start of construction of the battery gigafactory in Sagunto.

The battery company, PowerCo SE, owned by the Volkswagen Group, was founded in July 2022. It is located on a 130-hectare plot of land, about 25 kilometres north of Valencia, where the Group’s second cell factory will be built in Europe, which will be connected to the Group’s network of gigafactories in 2026.

The gigafactory in Valencia has an annual production capacity of 40 GWh per year and will supply battery cells to the Volkswagen Group’s car plants in Martorell and Pamplona. The start of production is scheduled for 2026.