Volkswagen to invest in mining operations to reduce battery costs

Mar 2023

German carmaking giant Volkswagen has announced it intends to invest in battery raw material mines in order to reduce the costs of EV batteries produced by its in-house battery unit PowerCo. The strategy is intended to help meet half of the company’s own raw materials demand, as well as enable the supply of materials and batteries to other players in the market. PowerCo already has an agreement in place with Ford to supply batteries for the American company which is planning 1.2 million EVs to be manufacture in Europe using VW’s MEB platform. Despite having not yet reached mass-production scale, PowerCo is targeting…



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