Volkswagen expects battery, raw material drive to cost $34 billion

by SpeedLux
Volkswagen logo

Volkswagen‘s planned European battery cell plants and securing important raw materials will cost as much as 30 billion euros ($34 billion), according to Thomas Schmall, a board member.

Schmall is in charge of technology at the automaker.

Schmall said in an interview at the Reuters Next conference that Volkswagen would look for outside partners to fund it.

Schmall is overseeing the automakers’ ambitious plan to build six large battery cell plants in Europe by the end of the decade.

Schmall said the goal is to make sure that the full production chain is sustainable, adding that producing electric vehicles alone was not enough for the automaker, which is aiming to be carbon neutral by at least 2050.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.