Volkswagen Breaks Ground on the First of Six European Battery Cell Factories as Part of a $20 Billion Investment

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Volkswagen Breaks Ground on the First of Six European Battery Cell Factories as Part of a $20 Billion Investment

Volkswagen is bundling its global EV battery business into a newly formed company named PowerCo as past of a $20 billion investment. The new company will be tasked with managing the entire value chain of the automaker’s battery business, including sourcing raw materials and battery recycling. On Thursday, Volkswagen and PowerCo held a groundbreaking ceremony for the first of six new EV battery plants planned for Europe.

Volkswagen Breaks Ground on the First of Six European Battery Cell Factories as Part of a $20 Billion Investment

2022-07-08 11:03

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