Automotive

VW Secures Canadian Battery Material

VW is closer to their “Overtake Tesla by 2030” goal, yes, but they are also better friends with Canada…which is its own reward.
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VW Secures Canadian Battery Material

VW's PowerCo has a new partnership to produce battery material for 2.2M EVs. The 100% VW-owned PowerCo was established in July and has started construction of the first of its 6 planned battery plants. 

The partnership with Umicore has secured cathode active battery materials, the most costly components in an EV, for PowerCo to begin turning into batteries. Which will keep VW EVs in compliance with tightening US EV tax credit standards.

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