Morning All,
It seems Volkswagen with the aid of their
partners (Goldman Sachs) are going hell for leather into battery production with six giga factories to be built in Europe.
Diess’ comments came on the same day his company broke ground on a cell factory in Salzgitter, Germany, and launched a battery company called PowerCo. In a statement, it said PowerCo would be “responsible for global battery activities of the Volkswagen Group.”
It added that, in the period up to 2030, PowerCo would “invest more than €20 billion [$20.4 billion] together with partners in the development of the business area, to generate annual sales in excess of €20 billion and to employ up to 20,000 people in Europe alone.”By the year 2030, VW says it wants at least 70% of its European revenue to come from electric cars. In China and North America, its goal is at least 50% of revenue from EVs.
The paragraphs above in bold print were taken from the link provided below.
https://www.cnbc.com/2022/07/07/volkswagen-ceo-says-ev-outlook-is-very-good.html
In this link is a video clip well worth a watch, he explains Volkswagen plans moving forward, shifting from ICE to EVs and his plans for battery supplies raw materials etc, he wants to be independent of the current battery supply chain by 2025 and will need to be sourcing/securing the raw materials
NOW if his 6 Giga Factories are to be producing batteries as early as 2025. All lithium miners are going to be in huge demand especially those producing by 2025.........................................................so................................................
Hold them tight people .................................................we are one of the few new mines that will be producing by early 2024
All imo and DYOR
Regards
FINN
(20min delay)