Volkswagen has announced that it has selected Ontario as the location for its first overseas battery manufacturing plant. This new plant will play a key role in Volkswagen's plan to shift towards electric vehicles, as it will produce batteries for their upcoming electric models.

The decision to choose Ontario was based on several factors, including the region's highly skilled workforce, competitive business environment, and supportive government policies. Volkswagen also cited the proximity to North American markets as a key factor in their decision.

The new battery plant is expected to create thousands of jobs in the region, both directly and indirectly, and will help to establish Ontario as a hub for clean energy technology. It is set to begin production in 2025 and will have a production capacity of 40 GWh, which is enough to power approximately 400,000 electric vehicles per year.

Volkswagen has made a commitment to electrify its entire fleet by 2035, and this new battery plant is a significant step towards achieving that goal. The company has also pledged to reduce its carbon footprint and become carbon-neutral by 2050.