Electric car production at VW in Emden
In December, the Wolfsburg-based company announced a technology alliance with Umicore for the large-scale production of batteries.
(Photo: dpa)
Volkswagen and the Belgian materials technology and recycling group Umicore are jointly investing three billion euros in the development of production capacities for battery materials. For this purpose, the VW subsidiary PowerCo, in which the Wolfsburg group has combined its battery activities, and the Belgian group founded a joint venture, as the two partners announced on Monday.
The joint venture should supply PowerCo with key materials for its European battery cell factories from 2025.
In December, the Wolfsburg-based company announced a technology alliance with Umicore for the large-scale production of batteries. The joint venture would supply the cell factories planned by VW with cathode material, it was said at the time. Production is scheduled to start in the middle of the decade and initially supply the cell production at VW in Salzgitter.
By the end of the decade, the partners want to produce cathode and primary material for 160 gigawatt hours of cell capacity per year. This corresponds to an annual production capacity that is sufficient for around 2.2 million fully electric vehicles.
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