Volkswagen enters global EV battery business – Fed up with Asian supply chain

Car giant Volkswagen, which is jointly bidding to become an electric vehicle maker, is, however, limited by the fact that it is dependent on battery suppliers in Asia. At the event, the German automaker is investing billions of dollars in its production of electric vehicle battery cells and becomes self-sufficient in the important component of EVs.

Volkswagen is consolidating its EV battery business into a new company called PowerCo. This will handle the full range of electric vehicle battery businesses, including raw material sourcing and battery recycling. The groundbreaking role at the first of six battery plants planned for Europe was carried out yesterday at its plant in Salzgitter, where battery cell production will begin in 2025.

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