• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, July 8, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Cars

Ford to buy battery cells from Volkswagen

by Meghana Kandra
March 17, 2023 - Updated On March 18, 2023
in Cars, Electric Vehicles
Reading Time: 2 mins read
0
VW plans mine investment to reduce battery costs
TwitterWhatsappLinkedin

Volkswagen is working hugely on bringing down EV costs starting with EV battery cells. The German automaker is looking to invest in mines as it expands vertically. With the help of VW plans, they plan to meet half of their own demand while selling to other automakers like Ford.

You might also like

Vaibhav Taneja: The Indian-Origin Tesla CFO Chosen by Elon Musk as Treasurer for America Party

Tesla Robotaxi Scrapes Parked Car in Austin Amid Early Challenges of Self-Driving Rollout

Mercedes CLA EV Defies Critics With Soaring Demand and Production Boost

VW plans mine investment to reduce battery costs
Image credits- Automotive News

It’s been a busy month for Volkswagen, starting with the release of the upgraded ID 3 with improved design and features. VW followed the new ID 3 up with its affordable EV concept, called the ID 2all. The ID 2all starts at less than $27,000 (€25,000) and features up to 279 miles range (450 km). There have also been reports that the automaker is developing its smallest, cheapest EV model yet, likely to be called the ID 1 (or ID Polo) which will start around $20,000 and is expected to arrive in 2027. Both the ID 2all and ID 1 (or ID Polo if you will) take design elements from Volkswagen classics like the Beetle and Golf.

Expansion

To bring EV costs down, CEO of VW Passenger Cars, Thomas Shafer says, “It’s not an easy game” but with several teams working together, he adds, “That volume will help us to bring prices down to be competitive and also still make money.” Shafer is referring to using its economies of scale as an advantage to drive volume and bring down costs. VW signed an agreement with Canada last year to acquire raw materials needed for EV batteries as it moved to qualify for the US tax credit.

However, with the battery being the most expensive component in an EV, the automaker has a plan to overcome this, by going straight to the source, according to a new report from Reuters. Earlier this week, Volkswagen announced it had officially selected St. Thomas, Ontario, as a home for its first North American Powerco EV battery plant. Volkswagen chose Ontario, Canada for its access to abundant raw materials and clean energy. Now, the company looks to take it a step further with plans to invest in mines to vertically align its business and bring EV battery costs down.

According to the automaker’s board member in charge of technology, Thomas Schmall, VW looks to meet half of its own demand with the cells and will also sell to third parties, including Ford, adding, “The bottleneck for raw materials is mining capacity – that’s why we need to invest in mines directly.” The board member says Powerco will begin delivering battery cells to Ford to help the automaker build 1.2 million vehicles on its MEB platform.

 

Tags: electric vehiclesEV costsThomas ShaferVolkswagenVW
Tweet54SendShare15
Previous Post

TCS and Infosys have the most exposure to US regional banks – J.P.Morgan.

Next Post

GM CEO in talks with US senators amidst automaker’s push for autonomous vehicles

Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

Recommended For You

Vaibhav Taneja: The Indian-Origin Tesla CFO Chosen by Elon Musk as Treasurer for America Party

by Rounak Majumdar
July 7, 2025
0
Vaibhav Taneja: The Indian-Origin Tesla CFO Chosen by Elon Musk as Treasurer for America Party

Vaibhav Taneja’s story is a testament to the power of discipline and expertise quietly shaping global boardrooms. Born and raised in Delhi in 1977, Taneja’s academic path began...

Read more

Tesla Robotaxi Scrapes Parked Car in Austin Amid Early Challenges of Self-Driving Rollout

by Harikrishnan A
July 7, 2025
0
Tesla Owner Burns Down Car and House After Plugging Directly Into Power Line

Tesla's much-anticipated robotaxi program in Austin, Texas, has hit a minor bump—literally. Just two weeks after launching the self-driving service in the city, one of Tesla's autonomous Model...

Read more

Mercedes CLA EV Defies Critics With Soaring Demand and Production Boost

by Samir Gautam
July 5, 2025
0
Mercedes CLA EV Electric sedan demand Three-shift production CLA Shooting Brake Mild-hybrid CLA

The internet may have been less than welcoming to the new Mercedes-Benz CLA, but the market is telling a different story. The German automaker is reporting unexpectedly high...

Read more
Next Post
GM CEO Mary Barra meets with U.S. senators on self-driving cars

GM CEO in talks with US senators amidst automaker's push for autonomous vehicles

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?