VW Just Ordered $48 Billion in Electric Car Batteries. That's About What Tesla Is Worth Right Now

A few hours after Elon Musk berated analysts for what he perceived as unimaginative questions, Volkswagen AG said it was writing a check for batteries that almost match Tesla Inc.’s entire market value. VW has awarded 40 billion euros ($48 billion) in contracts to battery producers, double from just a few weeks ago. The deals take the German manufacturer within striking distance of its target to lock down 50 billion euros in supplies. Volkswagen says it expects to be producing 3 million electric cars a year by 2025.

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Technology could add to oil reserves.

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VW is going ahead with the whole EV revolution. Slowly but in a  a fairly big way. Their market is beyond comparisation. It will be interesting to see who is the supplier. 
 

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2025? By then the battle for supremacy will be over and Tesla isn't going to sit idle.

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which battery producers?

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I've  read the article and expected to find a little bit more about manufacturers of the batteries. But nothing. It's more an article about Tesla

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In this other article  suppliers are listed : LG Chem, Samsung and CATL

 

" LG Chem, Samsung and Chinese battery maker Contemporary Amperex Technology Co Ltd will supply batteries and technology to Volkswagen, which has no plans to start producing its own batteries, according to Mueller. "

https://insideevs.com/volkswagen-orders-up-20-billion-in-batteries/

 

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I think Volkswagen is rather smart in this regard. They are not committing to their own battery plants but securing raw materials instead. Especially when you are aware that others can do it better than you can. 

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i find it rather odd that they are going for EV when a full charged battery can go no more than 160 miles. are there advances on such battery that can last at least 300 km per full charge? i believe these battery manufacturers are still making Li+ battery. moreover, it takes a while to fully charge a battery. even if you can fully charge a battery in less than 5 minutes, my understanding is that such Li+ battery lifespan can be drastically reduced. if this is the case, an EV is not practical. 

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