VW eyes Canada in search for first North America cell plant - source - Kalkine Media

Follow us on Google News:
 VW eyes Canada in search for first North America cell plant - source
Image source: ©2022 Kalkine Media®

BERLIN (Reuters) - Volkswagen and its battery subsidiary PowerCo SE have begun searching for a site for the carmaker's first battery cell factory in North America, a company source told Reuters on Thursday.

The source said Canada was "a logical option" for the plant, which would be VW's first gigafactory outside Europe.

The move was described as an expansion of the memorandum of understanding signed between Volkswagen and mineral-rich Canada in August, in which they agreed to intensify efforts to secure access to lithium, nickel and cobalt.

Europe's carmakers have pushed to secure stakes in battery production on the continent, but the industry there is still in its infancy.

In September, Volkswagen announced a $2.9 billion battery parts joint venture with Belgian materials firm Umicore

On the hunt for a location in North America, Volkswagen board member for technology Thomas Schmall said: "PowerCo is about to jump across the Atlantic. The framework conditions in North America are highly attractive. The most competitive location wins the race."

(Reporting by Jan Schwartz; Writing by Rachel More; Editing by Miranda Murray)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK