Volkswagen is expected to update its plan to secure battery supply in order to enable its electric vehicle production ramp.
https://electrek.co/2021/03/09/vw-tesla-like-battery-day-produce-cells-spain/
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.
Along with the Power Day announcement, CEO Herbert Diess also confirmed plans to build battery cells in Spain as part of the conversion of their Martorell factory:
Our plans are bold: Conversion of Martorell into a fully electric car plant, local cell production in Spain, buildup of infrastructure for fast charging and green energy…
More details should be announced on March 15 during VW’s Power Day.
2021 - The Year for EMH, page-390
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