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Volkswagen: Difference between revisions
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=== PowerCo === | === PowerCo === | ||
January 3, 2024: Powercore’s battery cell developed with QuantumScape only witnessed a 5% storage capacity loss after 1,000 charging cycles (equivalent to 500,000 kilometres on the road), exceeding industry targets of 700 charging cycles and a maximum loss of 20% capacity.“These are very encouraging results,” PowerCo head Frank Blome said. “The final result of this development could be a battery cell that enables long ranges, can be charged super-quickly and practically does not age.”<ref>https://www.bloomberg.com/news/articles/2024-01-03/vw-sees-promising-results-from-latest-solid-state-battery-test</ref> | |||
September 19, 2023: CFO Arno Antlitz said Volkswagen could turn one of its major clients into a strategic investor for its PowerCo business. Powercore currently has Ford as its major client. Ford will manufacture battery cells for its US business using Volkswagen's MEB platform. It is also in advanced talks with Mahindra for the use of its MEB platform. PowerCo will start producing cells in 2025. Antlitz reiterated his previous comments that an investor might be found next year and that interest is high. He added that Volkswagen may list other holdings in the market in future to finance acquisitions<ref>https://finance.yahoo.com/news/volkswagens-battery-unit-powerco-investor-100000309.html</ref>. | |||
March 17, 2023: Thomas Schmall, Volkswagen's board member in charge of Technology said that its PowerCo will invest in mines to lower the cost of battery sales, meet half of its demand and also sell to third party customers. PowerCo's first customer will be Ford, which is building 1.2 million vehicles in Europe based on Volkswagen's electric MEB platform. It plans to generate 20 billion euros ($21.22 billion) in revenue by 2030. This could be a great move given that 40% of EV costs come from the battery.<ref>https://www.reuters.com/business/autos-transportation/volkswagen-invest-mines-bid-become-global-battery-supplier-2023-03-17/</ref> | June 5, 2023: Volkswagen is searching the world, from Canada to Indonesia for battery materials supplies to rely less on China. “Today we are 100% dependent on China,” VW board member and technology chief Thomas Schmall. Schmall noted that VW's goal is to reduce the share of Chinese components in their batteries by making it 50% globally on average. China manufacturers control more than 50% of the global market for EV batteries. However, VW will still use China batteries for vehicles manufactured in China<ref>https://www.wsj.com/articles/vw-is-on-a-hunt-for-resources-to-remove-china-from-its-ev-batteries-663ee99?siteid=yhoof2</ref>. | ||
March 17, 2023: Thomas Schmall, Volkswagen's board member in charge of Technology said that its PowerCo will invest in mines to lower the cost of battery sales, meet half of its demand and also sell to third-party customers. PowerCo's first customer will be Ford, which is building 1.2 million vehicles in Europe based on Volkswagen's electric MEB platform. It plans to generate 20 billion euros ($21.22 billion) in revenue by 2030. This could be a great move given that 40% of EV costs come from the battery.<ref>https://www.reuters.com/business/autos-transportation/volkswagen-invest-mines-bid-become-global-battery-supplier-2023-03-17/</ref> | |||
=== Scout === | === Scout === | ||