The Volkswagen Group and Northvolt jointly invest € 450 million for battery operations in Salzgitter

Heaven32 May 11, 2020 Comments

The Volkswagen Group and Northvolt jointly invest € 450 million for battery operations in Salzgitter

[ad_1]

Volkswagen and Northvolt formed a strategic alliance last year to manufacture lithium-ion batteries on a larger scale in Germany. The joint venture appears to be gaining fresh momentum in which Volkswag will develop infrastructure for the joint venture factory ‘Northvolt Zwei '. This facility will play an essential role in the production of lithium ion battery cells, to take advantage of synergies at the Salzgitter site that is based on the existing Center of Excellence for Battery Cells. Around 450 million euros will be invested in this project and the joint venture will initially focus on renting the factory space.

Also read: BYD and Hino sign a strategic alliance for the development of commercial battery electric vehicles

The next key strategic decision will be VW's commitment to develop buildings and infrastructure at the plant. Construction work on the site is expected to begin this year, probably towards the end. Production of battery cells at the plant will begin in early 2024 with an initial production capacity of 16 gigawatt hours.

Around 450 million euros will be invested jointly in the project.

Thomas Schmall, CEO of Volkswagen Group Components, said: “The production of battery cells in Salzgitter is an important step in the transformation to electric mobility. We are bringing together expertise at the Salzgitter site with production capabilities and the Center of Excellence for Battery Cells, and therefore we are driving the development of Battery Cells further, developing new standards and transferring them directly to the manufacturing process. ”

Related Downloads:

Dr. Stefan Sommer, member of the Board of the Volkswagen Group for Components and Procurement and member of the Board of Directors of Northvolt AB, said: “We are optimizing the Volkswagen Group's strategic position in the key future field of batteries. In addition to a very secure supply base with external producers, we are also systematically developing new capabilities. ”

0 0 Comments

As part of its electrification strategy, the Volkswagen Group is focusing on technological expertise in the field of battery cell production. In addition, the Volkswagen group has opted for a strategic relationship with tough producers to secure its battery supplies worldwide. These providers include LG Chem, Samsung, SKI, and CATL. Volkswagen expects annual demand of more than 150 gigawatt-hours from 2025 in Europe and similar demand from Asian markets.

For the latest car news and reviews, follow CarandBike at Twitter, Facebookand subscribe to our Youtube channel.

[ad_2]

Leave a Reply Cancel reply