VW reinforces its search for cobalt supplier
After Volkswagen’s initial tender calling for cobalt at a fixed price failed to attract any bidders, the company has changed strategy and invited producers and dealers to come to its Wolfsburg HQ to talk, reports Bloomberg.
Volkswagen is said to have stepped up its bid and adapted its requirements for a discounted fixed price. Still, with a planned investment of more than 34bn euros in the next five years to become the world’s largest electric carmaker, VW has substantial volume to offer but also desperately needs cobalt to built enough batteries.
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