Automakers are preparing for increasing electric vehicle demand in Europe, which the International Energy Association says overtook China in 2020 as the fastest-growing market for EVs. Tesla recently completed a plant in Berlin. VW is planning to add EV production lines at its plant at its global headquarters in Wolfsburg, Germany, and is in the early stages of planning a new EV plant nearby, which could come online in 2026. Nissan will invest $17.6 billion to establish EV refurbishing plants in Europe and the U.S. by 2026. It aims to expand its global battery production by 2031 in order to meet future EV demand. In July, Nissan announced a $ 1.4-billion investment in its Sunderland, U.K., EV hub, which includes a 9-GWh battery plant.
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