have struck deals with producers to source materials like lithium, nickel and cobalt and pass them onto their battery suppliers.It's an ambitious roadmap for a unit not yet producing at scale. Production will start in 2025 at PowerCo's plant in Salzgitter, Germany, 2026 in Valencia, Spain and 2027 in Ontario, Canada.
Still, Schmall is confident the carmaker can expand quickly - and must do so if it wants to build an affordable EV, in which 40% of the costs come from the battery.the details of a 25,000-euro EV it aims to sell in Europe from 2025.for the second time in four months in China in February.In Volkswagen's 180-billion-euro five year spending plan, up to 15 billion is earmarked for its three announced battery plants and some raw material sourcing.
The carmaker has so far nailed down raw material supply until 2026 - by which time the German and Spanish plants will be in operation - and will decide in the next few months how to meet its demand from then on, Schmall said in the interview."Bringing down battery costs further is a challenge," Schmall said. "We're using all the instruments with PowerCo."
Asian producers like CATL, LG Chem and Samsung SDI dominate global cell production, with almost half of plannedHalf the staff at Volkswagen's PowerCo are industry veterans from Asia, Schmall said, enabling the battery unit to enter the industry at the top of the learning curve.
Owning the process from dirt to final product. Vertical integration is key
uh oh
By 'invest in mines' do you mean steal natural resources using local security forces to maintain control, pollute water ways, dump tailings into rivers, refuse to negotiate with locals, pay them a pittance as once-and-for-all compensation, dodge taxes and feign ignorance?
I was very sad and disappointed to see some of their offices in my region in Rio de Janeiro closed down. Hopefully we will now be able to reopen then. I will definitely be doing everything in power to keep the legacy my uncle had installed
European mines?
As to who owns the money. Holds the key to humanity.
Is this not a good idea? I believe dark money halted investment in several lithium mines in Europe by stirring up local hatred which as easy task. For example rio Tinto ( worlds largest mining group)pulled out of Serbia and list $2 billion, BUT this just hands more power to China
Which means they'll have much closer relations with China. US sabotage on VW factories imminent.
Lithium from Quebec 🇨🇦
😒
I see lots of profits...but what about the countries that will get their soil mined ? What do they get in return ?
Too late, China beat you
Please invest in Jammu Kashmir and extract all lithium
It all sounds very eco-friendly... 😂
With the banks, George triple you Bush. not bad eh ? Turbo Diesel Injection. After Pfizer, Byezer.
Copper and the dark side of the energy transition | DW Documentary via YouTube
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