VW & Scania - Investment For The Biggest Battery Europe's Cell Plant

[Pavel + 384]

Volkswagen-owned truckmaker Scania is to invest 10 million euros in a 4 billion euro ($5 billion) project to build Europe’s biggest battery cell plant in northern Sweden. Northvolt and Scania they had agreed to develop and commercialize battery cell technology for heavy commercial vehicles; Scania’s investment will go toward building a demonstration production line and research facility for Northvolt in Skelleftea, northern Sweden. Management of this automaker believes to see the first trucks stemming from the partnership being produced with batteries from the demo line next year. 

[Petar + 76]

Nothing is a coincidence. VW is a automaker giant and with new investment they announcement wants to be important a part of world market in cell car industry. 

[damirUSBiH + 327]

Sweden’s Northvolt is a respectable firm whose CEO Peter Carlsson used to work for Tesla (TSLA.O). Now they try to cover European market with large-scale battery cell, because automakers and industrial firms have so far been largely reliant on Asian imports in this segment. 

[Adam Varga + 123]

If we compare them to Tesla or even Chinese, they are only tipping their toes in the water. None of other car companies don't have a large source of batteries to compete with Tesla. 

[Selva + 252]

If they want to keep the market they will have to commit more money that they have so far. If they lose market share it will cost way more money to get it back.