Volkswagen to invest in mines in bid to become global battery supplier. mining
Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers, the carmaker’s board member in charge of technology said.
The carmaker was partnering on supply deals with mining companies in Canada, where it will build its first North American battery plant. “In future, there will be a select number of battery standards. Through our large volume and third-party sales business, we want to be one of those standards,” he said.Acquiring batteries at a reasonable cost is a challenge for carmakers like Volkswagen, Tesla and Stellantis looking to make electric vehicles affordable.analysis showed – though even the US EV maker is struggling to ramp up production and is recruiting Asian suppliers to help.
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