Volkswagen: three new battery partnerships

(CercleFinance.com) - The Volkswagen Group has announced a series of strategic partnerships in the field of batteries with Umicore, 24M Technologies and Vulcan Energy Resources.


Although independent of each other, these partnerships share a common goal: i.e. contribute to the industrialisation and mass production of sustainable advanced batteries. In Europe alone, the Group plans to build six gigafactories by 2030.

In this context, Volkswagen AG and Umicore, a specialist in clean mobility materials, plan to set up a joint venture designed to supply cathode materials to Volkswagen AG's European plants. It plans to gradually increase the production capacity of the joint venture from 2025 onwards, with an annual production of up to 160 GWh by the end of the decade.

Volkswagen is also investing in the Cambridge-based battery start-up 24M Technologies with the idea of industrialising 24M technology, a new process that enables considerable cost optimisation in future battery production.


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