Volkswagen broke ground this week on the first of 6 European battery factories as it continues to push the EV revolution forward.
, PowerCo will manage Volkswagen Group’s international factory operations, develop cell technology, vertically integrate the value chain, supply the factories with machinery and equipment, and manage battery recycling operations. The Salzgitter plant is expected to supply about 500,000 EVs. Together, the new factories planned for Europe could employ 20,000 workers and supply enough batteries to power 3 million electric cars.
Thomas Schmall, Volkswagen board member for technology, says, “In building our first in-house cell factory, we are consistently implementing our technology road map. PowerCo will become a global battery player. The company’s major strength will be vertical integration from raw materials and the cell right through to recycling. In future, we will handle all the relevant activities in-house and will gain a strategic competitive advantage in the race to take the lead in e-mobility.
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