• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, May 18, 2025
  • Login
  • Register
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 Tech Automobiles

Volkswagen to invest $20B creating a EV battery making company

by Meghana Kandra
July 7, 2022 - Updated On July 8, 2022
in Automobiles, Cars, Electric Vehicles
Reading Time: 2 mins read
0
Volkswagen Invests $25 Billion in Battery Supplies to Bolster EV Agenda
TwitterWhatsappLinkedin

Volkswagen announced that it would be investing $20.28 billion the making EV batteries for its vehicles. It further added that by creating a new company called Power Co, they will also create 20,000 jobs. It is planned to generate around $20.38 billion in annual sales. The new company will secure all the materials, supplies, and capacity that can push VW’s ambitions toward electrification.

You might also like

Dodge Pauses Entry-Level Charger Daytona R/T for 2026 Amid Shifting Market and Tariff Pressures

Audi Officially Retires the Q8 e-Tron, A Successor is Already in the Pipeline

2026 Toyota RAV4 Teased Ahead of May 20 Reveal: A Bold, Electrified Future Awaits

Volkswagen Invests $25 Billion in Battery Supplies to Bolster EV Agenda
Image credits- Green Tech India

Power Co will manage VW’s entire battery supply chain, from research and development of new technologies to the mining of the raw materials to end-of-life recycling. The news was announced at a groundbreaking ceremony for the company’s first battery plant in Salzgitter, a city in Germany’s Lower Saxony.

“The battery cell business is one of the cornerstones of our New Auto strategy which will make Volkswagen a leading provider of the sustainable, software-driven mobility of tomorrow,” VW CEO Herbert Diess said in a statement. “Establishing our own cell factory is a megaproject in technical and economic terms. It shows that we are bringing the leading-edge technology of the future to Germany!”

Last year, VW unveiled plans to build six battery cell production plants in Europe by 2030, including the facility in Salzgitter and one in Skelleftea, Sweden. A third plant will be established in Valencia, Spain, and the fourth one will be based in Eastern Europe. The company is also exploring plans to build future gigafactories in North America. The plants will eventually have a production capacity of 240 gigawatt-hours a year.

Batteries

Starting in 2023, VW plans to roll out a new unified prismatic cell design of its batteries that will be installed across the automaker’s brands. The goal is to have this unified cell design powering up to 80 percent of VW’s electric vehicles by 2030. VW also has contracts with two other major battery producers, Samsung and CATL. And the company is backing a startup based in San Jose, California, QuantumScape, which is working on more energy-efficient solid-state batteries.

VW isn’t the only automaker to see vertical integration as a key component to EV success. Ford is building three new battery plants that it says will have 129 GWh a year of production capacity. General Motors is planning four new battery factories in the US with LG Chem for a total annual capacity of 140 GWh. Stellantis is building a $2.5 billion battery plant in Indiana, and Hyundai and Toyota have also announced cell production plans in the US. VW, which is the second-largest automaker in the world based on volume, has run into headwinds in its shift to electric vehicles.

Tags: battery makingelectric vehiclesEruopeGermanyHerbert DiessVolkswagen
Tweet54SendShare15
Previous Post

Akasa Air gets an airline license from DGCA

Next Post

Laid-off Tesla employees find work in major tech firms including Google, Apple and Amazon

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

Dodge Pauses Entry-Level Charger Daytona R/T for 2026 Amid Shifting Market and Tariff Pressures

by Samir Gautam
May 17, 2025
0
The Dodge Charger Daytona R/T will not be part of the 2026 model year lineup, according to Dodge CEO Matt McAlear. While Dodge hasn’t completely ruled out the trim’s return in the future, the automaker has officially postponed its production for now. The reason? A combination of market shifts and uncertainties surrounding U.S. tariff policies. "Production of the Dodge Charger Daytona R/T is postponed for the 2026 model year as we continue to assess the effects of U.S. tariff policies,” McAlear said in a statement to Motor1. Instead, Dodge will sharpen its focus on high-performance offerings, like the Charger Daytona Scat Pack, and upcoming internal combustion alternatives. Scat Pack Takes Center Stage With the R/T trim off the table, the Daytona Scat Pack now becomes the sole all-electric Charger variant available for 2026. And it’s no slouch. Delivering 670 horsepower from its dual-motor setup, the Scat Pack is targeting mid-11-second quarter-mile times. However, the performance comes at the cost of range, 241 miles per the EPA estimate, a step down from the R/T’s 308 miles. That boost in performance also brings a steeper price tag. The Scat Pack will sit around $60,000 after factoring in the $7,500 federal EV tax credit. In contrast, the now-shelved R/T was expected to be a more accessible entry point to the electric muscle segment, slipping in under $50,000 with the same tax break. Lagging Sales, Overstuffed Lots Market data supports Dodge’s decision. Charger sales fell by a staggering 54 percent in 2024. The first-quarter sales of electric Chargers in 2025 totaled just 1,947 units, a mix of both R/T and Scat Pack trims. Meanwhile, Mopar Insiders reported that approximately 3,500 R/T units are still sitting unsold in dealer inventories. This lukewarm reception has highlighted a broader issue: despite the impressive specs, the brand’s electric offerings haven’t captured the hearts of traditional Dodge enthusiasts, many of whom remain loyal to internal combustion. The Sixpack Rises To address this, Dodge is introducing a new four-door variant, the Charger Sixpack, aimed at muscle fans not quite ready to embrace electrification. Powered by a twin-turbocharged 3.0-liter inline-six engine, the Sixpack will be available in both standard-output (420 hp) and high-output (550 hp) trims. Though exact pricing hasn’t been revealed, it's expected to slot in around the price point previously held by the R/T. The new platform, STLA Large, is designed to support both EVs and ICE models, giving Dodge flexibility to pivot as demand dictates. Looking Ahead While the Charger Daytona R/T may be gone for now, its future isn’t completely off the table. Dodge is keeping a close eye on market dynamics, government policies, and consumer behavior as it fine-tunes its approach. With the Scat Pack holding the electric torch and the Six Pack catering to combustion purists, Dodge’s strategy appears focused on streamlining its offerings while covering both sides of the propulsion spectrum. As more details about the 2026 Charger lineup emerge, muscle car fans and industry watchers alike will be paying close attention. The muscle car isn’t dead, it’s just adapting.

The Dodge Charger Daytona R/T will not be part of the 2026 model year lineup, according to Dodge CEO Matt McAlear. While Dodge hasn’t completely ruled out the...

Read more

Audi Officially Retires the Q8 e-Tron, A Successor is Already in the Pipeline

by Samir Gautam
May 17, 2025
0
Audi Officially Retires the Q8 e-Tron, A Successor is Already in the Pipeline

Audi has officially pulled the plug on the Q8 e-tron, marking the end of an era for the automaker’s first dedicated electric SUV. The announcement follows the closure...

Read more

2026 Toyota RAV4 Teased Ahead of May 20 Reveal: A Bold, Electrified Future Awaits

by Samir Gautam
May 17, 2025
0
2026 Toyota RAV4 Teased Ahead of May 20 Reveal: A Bold, Electrified Future Awaits

Toyota has set the automotive world abuzz by releasing the first official teasers of the next-generation RAV4, with a full reveal scheduled for May 20. While the automaker...

Read more
Next Post
laid-off tesla employees find new home in rivian, lucid, amazon, and apple

Laid-off Tesla employees find work in major tech firms including Google, Apple and Amazon

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? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

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?