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Volkswagen: Difference between revisions
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=== PowerCo === | === PowerCo === | ||
September 19, 2023: CFO Arno Antlitz said Volkswagen could turn one of its major clients as 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>. | |||
June 5, 2023: Volkswagen is searching the world, from Canada to Indonesia for battery materials supplies in an effort 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 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>. | June 5, 2023: Volkswagen is searching the world, from Canada to Indonesia for battery materials supplies in an effort 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 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>. | ||