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Volkswagen Pushes Battery Partners To Build Gigafactories

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Volkswagen is pushing its joint venture partners including SK Innovation (SKI) to build electric car battery plants which have at least one Gigawatt manufacturing capacity, Chief Executive Herbert Diess told Reuters.“Anything below that amount would make little sense,” Diess said.Volkswagen will buy 50 billion euros ($56.57 billion) worth of battery cells for electric cars and has identified South Korea’s SKI, LG Chem and Samsung SDI as strategic battery cell suppliers as well as China’s Contemporary Amperex Technology Co Ltd (CATL). The German automaker is retooling 16 factories to build electric vehicles and plans to start producing 33 different electric cars under the Skoda, Audi, VW and Seat brands by mid 2023.

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Batteries ... would be good investment if we knew what the next battery technology would be. Graphene or something else?

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1 minute ago, 50 shades of black said:

In parallel:  "Former VW boss charged over diesel emissions scandal"

The public prosecutor in Braunschweig charged Martin Winterkorn and four other managers with fraud.
VW said it would not comment on the indictments.

 

https://www.bbc.com/news/47937141

About time...

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The EV revolution is underway....

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" VW plans to launch more than 70 new EV models in the next 10 years, which equates to about a quarter of the vehicles VW will make and deliver by 2025." 

If VW delivers a Winning EV, $35-40K should be on their high “Lux” end.

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I expect that EV Sales will not grow as quickly as Mr. Diess is going to build up VW’s production capacity. This will generate huge overcapacity and strong financial losses for VW.

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I think manufacturer's should focus on making Hybrid options rather than going full EV. 

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