PowerCo and Umicore establish joint venture for European battery materials production

PowerCo, the new battery company of the Volkswagen Group, and Umicore, the Belgian circular materials technology group, announced today the founding of a joint venture for precursor and cathode material production in Europe. From 2025 onwards, the joint venture will supply PowerCo’s European battery cell factories with key materials. By the end of the decade, the partners aim to produce cathode material and their precursors for 160 GWh cell capacity per year, which compares to an annual production capacity capable of powering about 2.2 million full electric vehicles. Cathode active materials are crucial for a successful powertrain transition towards e-mobility as they are the key technological lever for battery performance, as well as the biggest single contributor to overall battery cost.

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Consumption data:
ID. Buzz Pro – power consumption in kWh/100 km: combined 21.7 – 20.5 (WLTP); CO₂ emissions combined in g/km: 0. Efficiency class: A+++; WLTP range: 402 to 423 km.
ID. Buzz Cargo – power consumption in kWh/100 km: combined 22.2 – 20.4 (WLTP); CO₂ emissions in g/km: combined 0. Efficiency class: A+++; WLTP range: 402 to 425 km.