German car-maker Porsche has decided to boost its planned investment aimed at expanding production at its plant in Horna Streda in Trencin region, opting to invest €1 billion instead of the originally intended €200 million in the production of battery modules for electric cars, daily Dennik E has reported. According to the daily, the first phase of the project involving an investment of €360 million was initiated at the start of this year, and production at the plant could be launched as early as late 2024.
The second phase of building the production centre involving an investment of €700 million should be launched this autumn. Production of battery cell sub-assemblies for plants producing Porsche e-cars could be initiated three years later, the daily reported.
In June of last year, the government granted Porsche Werkzeugbau an investment incentive in the form of income-tax relief worth €3.49 million for the construction of a battery factory and a further €710,000 for implementing a project to change the current operation. At that time, the company planned to invest €195 million in a project for the mass production of Li-ion battery modules for electric vehicles and wanted to invest at least €6 million in a project to diversify the production of the technology centre's existing plant.
(TASR)
