Volkswagen is stepping into EV cell manufacturing with a 1 billion Euro funding

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With 20 or so extra EVs deliberate for manufacturing within the subsequent six years, Volkswagen goes to want lots of battery cells.


Volkswagen

Volkswagen has made no secret about its plans for electrification within the close to future. With 20 battery-electric fashions slated to come back to market within the subsequent six years, VW goes to want lots of battery cells, and to get them; it is determined to make its personal.

Volkswagen will make investments practically 1 billion Euros in a battery cell manufacturing facility within the Decrease Saxony area of Germany, the corporate stated Monday in a press launch. This information comes fairly quickly after the announcement that it might be retooling its manufacturing unit in Zwickau (additionally in Saxony) to be an EV solely plant.

“As we speak’s determination by the Supervisory Board marks a breakthrough for battery cell manufacturing in Decrease Saxony,” Stephan Weil, minister president for Decrease Saxony, stated in an announcement. “The manufacturing of battery cells is essential for the No. 1 automotive stronghold. These are constructive alerts for the Salzgitter location. I’m very optimistic that battery cells might be produced in Germany at aggressive circumstances.”

Volkswagen’s launch says it’in poor health have a companion on this battery cell manufacturing facility, nevertheless it declined to determine that companion. If we had been the betting sort, we would guess that it is Varta — a German battery firm through which the federal government there has lately invested cash to kickstart EV cell manufacturing.

“As a part of our complete electrification offensive we plan to safe our battery capacities by strategic partnerships,” Supervisory Board Chairman Hans Dieter Pötsch stated in an announcement. “On the identical time, we want to broaden our manufacturing capacities in Europe to assist our progress plans. Given the ever larger complexity of our business and the associated challenges, it’s important to give attention to our core enterprise.”

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