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VW to Invest in Mines, page-3

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cjlcowled

2,466 Posts.

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18/03/23

10:01

Post #: 66836393
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Originally posted by cjlcowled: ↑

I think the news that VW plan to invest in mines deserves its own thread. Key points of interest at this stage are:
EU recently announced the Critical Raw Materials Act which includes Nickel and Cobalt as "Strategic Raw Materials." Aim is to diversify the supply chain away from heavy reliance on one country for any single raw material.
The EU's CRM Act includes an intention to deal with Australia and Indonesia for Nickel. Currently, the EU and Australia are still working on the details of a Free Trade Agreement.
VW announced Friday that they plan to invest directly in mines. They have established a company called PowerCo to vertically integrate the battery supply chain with the aim of manufacturing batteries. Interestingly, they aim to supply multiple OEMs, not just VW.
Robert Friedland has stepped down as a director of SES AI. It seems that SES and SRL no longer "fit like hand in glove." On the day of the announcement that RF had quit SES, he shared a tweet about VW investing in mines.

What are the chances that VW invest in Sunrise? Our project would surely be a very attractive target for VW. Excellent ESG credentials, stable jurisdiction, etc. Perhaps the only problem is that Sunrise is way too small for VW.

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SRL Price at posting: $1.37 Sentiment: Buy Disclosure: Held
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