VW says European battery cell factory plan could include JVs, IPOs
Automaker cannot fund plants on its own, CEO Herbert Diess said.
VW
Production of battery systems for the ID3 and ID4 electric cars at VW s factory in Brunswick, Germany. As part of its EV push to catch Tesla, VW wants to make its own battery cells for these systems.
FRANKFURT Volkswagen Group is looking for outside money to help its plan to build up to six battery cell factories in Europe by 2030, CEO Herbert Diess said, adding he was open to listing some of those activities on the stock exchange.
VW lost 100,000 cars lost due to chip shortage
Automaker will not be able to make up shortfall this year
Reuters
A VW Golf assembly line in Wolfsburg, Germany.
FRANKFURT Volkswagen Group was unable to build 100,000 cars due to the chip shortage that has hit the automotive sector, CEO Herbert Diess said.
The automaker will not be able to make up for the shortfall this year, Diess said during VW s annual press conference on Tuesday.
Diess said VW will secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure for the automaker. DAILY NEWSLETTER: Sign up and get the top news of the day in Europe every business weekday.
Herbert Diess said that the automaker would secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure outlined earlier this year.
VW plans six battery cell plants in Europe by 2030 autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.
VW lost 100,000 cars lost due to chip shortage, CEO Diess says autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.