It is understood that Volkswagen recently committed to invest 20 billion euros in the establishment of a new company called PowerCo by 2030, which will be responsible for Volkswagen's global battery business. The company will manage the operations of the Volkswagen Group's international battery factories, develop battery technology, manage battery recycling, etc., and be responsible for the entire business chain from raw materials to battery production/recycling.
Previously, on July 7, the Volkswagen Group officially announced that the new battery plant in Salzgitter, Germany, broke ground and is expected to be completed and put into production in 2025, and began to produce automotive power batteries. Volkswagen said it was on track to more than halve the cost of car batteries after building six battery factories in Europe.
According to official data, Volkswagen's total sales in 2021 will reach 8.88 million vehicles, second only to Toyota's 10.49 million vehicles, ranking second in the world. Among them, only 452,900 new energy vehicles were sold.
