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Volkswagen: Difference between revisions
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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>. | ||
Thomas Schmall, Volkswagen's board member in charge of Technology said that its PowerCo will invest in mines to lower the cost of battery sales, meet half of its demand and also sell to third party customers. PowerCo's first customer will be Ford, which is building 1.2 million vehicles in Europe based on Volkswagen's electric MEB platform. It plans to generate 20 billion euros ($21.22 billion) in revenue by 2030. This could be a great move given that 40% of EV costs come from the battery.<ref>https://www.reuters.com/business/autos-transportation/volkswagen-invest-mines-bid-become-global-battery-supplier-2023-03-17/</ref> | March 17, 2023: Thomas Schmall, Volkswagen's board member in charge of Technology said that its PowerCo will invest in mines to lower the cost of battery sales, meet half of its demand and also sell to third party customers. PowerCo's first customer will be Ford, which is building 1.2 million vehicles in Europe based on Volkswagen's electric MEB platform. It plans to generate 20 billion euros ($21.22 billion) in revenue by 2030. This could be a great move given that 40% of EV costs come from the battery.<ref>https://www.reuters.com/business/autos-transportation/volkswagen-invest-mines-bid-become-global-battery-supplier-2023-03-17/</ref> | ||
=== Scout === | === Scout === | ||