Volkswagen has now officially given the go-ahead for the construction of the second battery cell factory of its subsidiary PowerCo in Valencia. Volkswagen is also said to be considering stakes in raw material mines and the sale of its battery cells to other customers.
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Volkswagen may have put plans for a battery cell factory in Eastern Europe on ice. According to a media report, the company is looking to build a plant in North America first since it could receive up to €10 billion in incentives because of the US Inflation Reduction Act.
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After a few tense weeks of power poker at Volkswagen, it has now been announced that Herbert Diess will remain Group CEO with the Group’s unequivocal backing for his strategy and leadership.
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Volkswagen realigns its global component unit “with a view to ensuring a coordinated entry to e-mobility,” reads their latest release. All component making units are thus to form one independent corporate entity under the umbrella of Volkswagen AG from January 2019.
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