Volkswagen wants to control the supply of raw materials for its battery cell production.
(Photo: Bloomberg/Getty Images)
New York, Vienna, Zurich In view of the impending bottlenecks in important raw materials for battery production, Volkswagen wants to focus more on Canada. The car manufacturer and the Canadian government will sign a declaration of intent to expand electromobility this Tuesday, as the Handelsblatt learned in advance. Both parties agree to examine how Canada can contribute to VW’s supply of raw materials.
According to Wolfsburg, PowerCo, the group’s newly founded battery company, plays a central role. This is intended to promote cooperation in the areas of battery value creation, raw material supply chains and cathode material production in North America.
“We don’t open our own mines, but we want to invest in Canadian mines and mine operators,” VW technology board member Thomas Schmall told Handelsblatt. The aim is to secure volumes and prices through long-term supply agreements, for example as part of a joint venture with PowerCo.
Nickel, copper, cobalt: Canada has the raw materials that Volkswagen needs
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