Teller Report

Now you can see non-English news...

Electromobility: VW plans to join Chinese battery manufacturers

2020-01-20T09:43:18.413Z

Volkswagen is apparently planning a strategic cooperation with a battery manufacturer from China. VW wants to secure access to key technologies.



Volkswagen is striving for a strategic collaboration with a battery manufacturer from China. The Chinese company Guoxuan confirmed that it is negotiating with the German automaker. The future cooperation will focus on technologies, products and capital. So far, there is no binding agreement or price or content agreements.

"There is significant uncertainty about the issues mentioned," the battery manufacturer said. The Reuters news agency had previously reported, citing insider information, that Volkswagen wanted to acquire 20 percent of Guoxuan's shares, making it the second largest shareholder after founder Li Zhen.

By working with the battery manufacturer, Volkswagen wants to secure access to key technologies in electromobility in China. The Wolfsburg-based company is the largest foreign car manufacturer in China and plans to sell 1.5 million electric cars in the People's Republic by 2025. A reliable supply of batteries is the basis for keeping pace with the expected growth, the company said.

The car company is also preparing for the supply of battery systems in Europe and the USA. Volkswagen wants to overtake the US electric car maker Tesla and become the world market leader in e-mobility in the next few years. In Germany, the group, together with its Swedish partner Northvolt, is pushing ahead with plans for the construction of a battery cell factory in Salzgitter, Lower Saxony.

Source: zeit

You may like

Tech/Game 2020-01-28T13:10:11.754Z

Trends 24h

Latest

business 2020/02/27    

© Communities 2019 - Privacy