(CercleFinance.com) – Volkswagen announces that PowerCo, its new battery company, and Umicore, the Belgian circular materials technology group, will create a 50/50 joint venture dedicated to the production of precursor and cathode materials in Europe.
“Cathode active materials are crucial for a successful powertrain transition to e-mobility as they are the key technology lever for battery performance, as well as the single largest contributor to overall battery cost,” he said. German manufacturer.
The production of the joint venture should start in 2025 with an annual capacity of 40 GWh from 2026. The two partners then aim to increase the annual production capacity to 160 GWh by the end of the decade, depending on the market and demand development.
The search for the future production site is still in progress.
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