VW is having its own Power Day similar to Tesla battery day.
Volkswagen is expected to update its plan to secure battery supply in order to enable its electric vehicle production ramp.
Earlier this week, VW announced an acceleration of its shift to electric cars with plans for 50% of its vehicles to be all-electric in US and China by 2030 and 70% in Europe over the same timeline.
To date, the German automaker has focused on issuing long-term battery supply contracts worth $48 billion with existing battery manufacturers.
The contracts are estimated to be for about 300 GWh of battery cells.
VW split those billions worth of contracts between several companies: Samsung SDI, LG Chem , SK Innovation, and CATL.
But the company has also started to become increasingly involve in battery cell development and production to partnerships with companies like NorthVolt and QuantumScape.
Through joint ventures with those companies, VW will own some battery cell production capacity in the near future.
VW is having its own Power Day similar to Tesla battery day....
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