Volkswagen partners to invest more than $20 billion in battery business

Volkswagen celebrates the beginning of a path that will lead them, as a first step, to manufacture their own batteries in 2025. A path that will begin in 2026 with the opening of the Sagunt factory and will last until 2030, when they will have six sites in Europe which produce 240 GWh per year to power its electric deployment, which includes the launch of at least 70 electric cars. This path now begins with the creation of PowerCo, the company that will carry out its battery business, and the laying of the first stone of the Salzgitter factory, which will be the center of its parts manufacturing network.

PowerCo will handle not just the business of making batteries, but everything that happens along that part’s value chain, from raw materials to the batteries that will go into its cars. By 2030, PowerCo will have spent more than €20 billion to become a company that generates exactly €20 billion in sales each year. By that time, the new company expects to have hired 20,000 people. Herbert Diess, CEO of the Volkswagen Group, says: “Today we achieved a strategic goal.” “The battery business is one of the pillars of our New Auto strategy, which will make us a leading provider of sustainable mobility in the future,” he says.

Since its inception, PowerCo has been in charge of managing international battery-related operations. This includes everything from the development of new technologies for battery parts to the vertical integration of the value chain and the supply of factory equipment. Frank Blome is now the CEO of PowerCo. He will work with Sebastian Wolf, who is the COO, Kai Alexander Müller, who is the CFO, Soonho Ahn, who is the CTO, Jorg Teichmann, who is the Director of Purchasing, Sebastian Krapoth, who is the Director of Human Resources, and Soonho Ahn. , who is the CTO.

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Salzgitter foundation stone

The Volkswagen Group battery company will be based in Salzgitter, which is also where one of the six factories the group wants to have running in Europe in the next ten years will be built. However, they have confirmed that they are looking into the possibility of building more gigafactories in North America. German Chancellor Olaf Scholz says Volkswagen is showing us what the future of green transport could look like. “Together, we are building the foundation for the future of Salzgitter,” he says.

In the act of beginning the construction of the plant, where 2,000 million euros will be spent and 5,000 people will work, the Volkswagen Group showed its plan to standardize the manufacture of batteries. From the consortium they say that it is like making cars. “How we make batteries will be based on what we have done millions of times with automotive platforms like the MQB and MEB. Therefore, we will be able to combine speed and profitability while maintaining the highest level of quality”, he says. Frank Bloom. This standardization will have an effect on products, processes and technology, as well as equipment, facilities and infrastructure. PowerCo says all power for the six factories will come from clean sources.

Volkswagen showed the prismatic battery that it said it would exhibit at Power Day 2021. They explain that this type of battery can be made with different types of chemicals and will be used in 80% of all electric cars made by the Volkswagen Group. . Salzgitter wants to start manufacturing them in 2025, and the rate will continue to rise until it reaches 40 GWh per year, enough for 500,000 cars. Volkswagen confirms that the prototypes they have manufactured so far have “promising” performance in terms of autonomy and charging speed, and that the synergies between the factories will allow them to reduce the cost of parts by 50%.

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