Government okays Gigafactory memorandum with VW

Published: 26.02.2023 Related countries:  Korea (south) Korea (south)

Battery plant plans begin to take shape

The government has approved concluding a non-binding memorandum of understanding with Volkswagen (VW), which sets the basic parameters of cooperation on the Gigafactory project. This announcement was made by Prime Minister Petr Fiala (ODS). The estimated investment is roughly CZK 120bn. Minister of Industry and Trade Jozef Síkela (for STAN) said that the factory could prepare the automotive industry for the arrival of electromobility. The Czech Ministry of Industry and Trade met with affected municipalities and is currently preparing a biological survey.

Source: CIA News
Prepared by the team of foreign office CzechTrade and CzechInvest Seoul