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☆ Volkswagen has set up half of EV fast chargers planned until 2025
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsMUNICH, Sept 4 (Reuters) - Volkswagen (VOWG_p.DE), Europe's largest carmaker, is making progress with the rollout of its network of electric vehicle fast chargers, the group's board member in charge of technology said on Monday. Thomas Schmall told journalists at the IAA car show in Munich that half of the 40,000 fast chargers Volkswagen plans to install until 2025 had already been set up. Reporting by Victoria Waldersee; Writing by Christoph Steitz; editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Thomas Schmall, Victoria Waldersee, Christoph Steitz, Friederike Heine Our Organizations: New York, REUTERS, Rights, IAA, Thomson Locations: Manhattan , New York City, U.S, Munich

☆ VW masters dry-coating battery process with potential to slash cell costs
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 16 (Reuters) - Volkswagen (VOWG_p.DE) and a technology partner have mastered a battery manufacturing process called dry coating which if scaled up could cut the cost of cell production by hundreds of millions of euros a year, its battery chief said on Friday. "No-one else can do this today," battery chief Thomas Schmall said at a media roundtable. Dry-coating eliminates that step with an adhesive that does not require drying, Schmall explained. Together with scaled-up production and cheaper raw materials, the carmaker hopes the procedure will help bring down cell costs by around 50%, Schmall said. Reporting by Victoria Waldersee; Editing by Rachel More and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Koenig, Thomas Schmall, Schmall, Tesla, Sebastian Wolf, Victoria Waldersee, Rachel More, Jan Harvey Organizations: Bauer AG, Maxwell Technologies, Reuters, Volkswagen, Thomson Locations: BERLIN, Germany, Spain, Canada

☆ Volkswagen: battery unit PowerCo will be 'investor-ready' early next year
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: 1 min

BERLIN, June 16 (Reuters) - Volkswagen's (VOWG_p.DE) battery unit PowerCo will be ready for investors at the beginning of next year, battery chief Thomas Schmall said at a roundtable in Berlin on Friday. Schmall's statement followed comments made last month by Chief Financial Officer Arno Antlitz that onlookers "shouldn’t be surprised if in 2024 there might be a first step taken with a strategic investor" in the unit. The battery chief declined to give further information on Friday, stating more would be disclosed at Volkswagen's capital markets day next Wednesday. Antlitz said in May that interest in the unit was high but the carmaker was evaluating how long to keep it on its books. Reporting by Victoria Waldersee, Jan Schwartz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Schmall, Arno Antlitz, shouldn’t, Antlitz, Victoria Waldersee, Jan Schwartz, Miranda Murray Organizations: Thomson Locations: BERLIN, Berlin

☆ Volkswagen Canada battery plant targets 90 GWh capacity, its biggest yet
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

[1/4] Canada's Prime Minister Justin Trudeau arrives to attend a news conference to announce details on the construction of a gigafactory for electric vehicle battery production by Volkswagen Group's battery company PowerCo SE in St. Thomas, Ontario, Canada April 21, 2023. REUTERS/Carlos OsorioCompanies Volkswagen AG FollowBERLIN, April 21 (Reuters) - Volkswagen (VOWG_p.DE) is targeting 90 gigawatt-hours of capacity at its planned battery factory in Ontario, Canada, the carmaker said on Friday, its largest planned battery plant to date. The carmaker is investing up to C$7 billion ($5.17 billion) in the plant, a statement said. The plant will cover most of the battery capacity it needs in North America, which battery chief Thomas Schmall said in March was between 60-100 gigawatt hours. ($1 = 1.3528 Canadian dollars)Reporting by Victoria Waldersee Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to invest in mines in bid to become global battery supplier
▼ + stars: | 2023-03-17 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Europe's biggest carmaker wants its battery unit PowerCo to become a global battery supplier, not just produce for Volkswagen's own needs, Thomas Schmall told Reuters in an interview. Long-term, Volkswagen plans to build enough cells to meet half its global battery needs, with most production capacity located in Europe and North America, according to Schmall. "The bottleneck for raw materials is mining capacity - that's why we need to invest in mines directly," he said. Volkswagen released on Thursday the details of a 25,000-euro EV it aims to sell in Europe from 2025. Asian producers like CATL, LG Chem and Samsung SDI dominate global cell production, with almost half of planned battery cell capacity in Europe by Asian players.

☆ Volkswagen invests in batteries, raw materials in race for affordable EV
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Over two-thirds of the company's five-year investment budget announced on Tuesday is allocated to electrification and digitalisation, including up to 15 billion for batteries and raw materials. Volkswagen, Europe's top carmaker, is striving to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. Buzz EV car, on the day of the annual news conference of the Volkswagen Group at DRIVE.Volkswagen Group Forum, in Berlin, Germany March 14, 2023. Volkswagen met analysts' expectations in 2022 on revenues but missed the consensus estimate for earnings before interest and taxes by 3%. The most likely actual stock market candidate is battery unit PowerCo.

☆ Volkswagen to invest $193 billion over 5 years to hit EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

[1/2] The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which opened its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. The investments come as Volkswagen, Europe's top carmaker, tries to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. In the latest investment plan, up to 15 billion euros is ringfenced for battery plants and raw materials. VW outperforms EU rivalsThe investment decisions are targeted towards fulfilling a 10-point plan developed by Volkswagen CEO Oliver Blume after he took the helm in September. The most likely actual stock market candidate is battery unit PowerCo.

☆ Volkswagen to invest $193 bln over 5 years to help meet EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowBERLIN, March 14 (Reuters) - Volkswagen (VOWG_p.DE) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to decline from 2025. In the latest plan, 15 billion euros is ringfenced for battery plants and raw materials and 2 billion euros will be put toward a plant in North Carolina for its Scout brand. Later on Tuesday, Volkswagen is also expected to share the results of a 'virtual equity story' exercise instigated by Blume. On Monday, Volkswagen announced its first battery cell plant outside of Europe would be in Canada, with production to start from 2027. ($1 = 0.9338 euros)Reporting by Victoria Waldersee, Editing by Rachel More and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to invest $193 billion to hit EV target, picks Canada for battery cell plant
▼ + stars: | 2023-03-14 | by ( ) edition.cnn.com time to read: +3 min

Volkswagen plans to invest 180 billion euros ($193 billion) over five years in areas including battery production and the sourcing of raw materials in a bid to cut electric vehicle costs and protect its market share, it said Tuesday. Over two-thirds of the company’s five-year investment budget is allocated to electrification and digitalization, including up to 15 billion ($16 billion) for batteries and raw materials. Volkswagen board member Thomas Schmall Ronny Hartmann/AFP/Getty Images/FileOn Monday, board member Thomas Schmall also announced that Volkswagen’s first North American battery cell factory would be in Canada, with production starting in 2027. The carmaker is still aiming to bring an affordable EV — costing around 25,000 euros ($26,795) at today’s prices — to market by 2025. The most likely actual stock market candidate is battery unit PowerCo.

SummarySummary Companies Move comes shortly after Scout plant announcementPlant in Canada can also qualify for IRA subsidiesBASF also picked Canada for EV battery materials plantWOLFSBURG, Germany, March 13 (Reuters) - Volkswagen (VOWG_p.DE) chose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region. Canada, home to a large mining sector for minerals including lithium, nickel and cobalt, is trying to woo companies involved in all levels of the EV supply chain via a multi-billion-dollar green technology fund as the world seeks to cut carbon emissions. The Canadian federal innovation minister, Francois-Philippe Champagne, called the VW battery plant a "home run for Canada" and said it was "the largest single investment in the auto sector in the history of Canada", without giving details. "I think all the big manufacturers understand that if you need to green the supply chain, Canada is the place to do that," said Champagne. Chemicals giant BASF (BASFn.DE) a year ago also secured land in Canada for a planned battery materials facility to better serve electric vehicle markets in the U.S. and Mexico.

SummarySummary Companies Move comes shortly after Scout plant announcementPlant in Canada can also qualify for IRA subsidiesBASF also picked Canada for EV battery materials plantWOLFSBURG, March 13 (Reuters) - Volkswagen (VOWG_p.DE) chose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region. He said Volkswagen would be making "the largest single investment in the auto sector in the history of Canada" but did not give details. The plant will be based in the city of St. Thomas, around 195 km (120 miles) northeast of Detroit. "I think all the big manufacturers understand that if you need to green the supply chain, Canada is the place to do that," said Champagne. Chemicals giant BASF (BASFn.DE) a year ago also secured land in Canada for a planned battery materials facility to better serve electric vehicle markets in the U.S. and Mexico.

☆ Volkswagen to build first North American battery cell plant in Canada
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

WOLFSBURG, March 13 (Reuters) - Volkswagen (VOWG_p.DE) said on Monday it will build its first North American battery cell plant in Canada, granting its cars access to both Canadian and U.S. subsidies as it works to localise its electric vehicle production chain in the region. VW's Monday's announcement did not specify the size of the investment or the capacity of the new plant, but board member Thomas Schmall said in August the company was targeting 20 gigawatt hours of capacity at its first North American site. Volkswagen has long said it is working towards setting up regional supply chains in Europe, North America and China for EV production in light of high transport and logistic costs, supply chain risks and geopolitical tensions. It announced last week its Scout brand would build a $2 billion manufacturing plant near Columbia, South Carolina for trucks and SUVs, with production to start in 2026. Reporting by Victoria Waldersee and Jan Schwartz, Editing by Angus MacSwan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen: we are covered by our three gigafactories in Europe until 2028
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

WOLFSBURG, March 13 (Reuters) - Volkswagen's (VOWG_p.DE) battery needs are covered until 2028 by its three confirmed factories in Europe - the Salzgitter plant in Germany, Northvolt's plant in Sweden and a planned plant in Valencia, board member Thomas Schmall said on Monday. "With these three plants we are covered until 2028," Schmall said at a press event at the Salzgitter plant, inaugurated last July. The Valencia plant, confirmed last year, is due to begin production in 2026. Volkswagen said last week it was waiting to hear what Europe's response to the U.S. Inflation Reduction Act will be before progressing with plans to build further battery plants in the region. The carmaker was standardising the structure of its factories to make production more efficient, Schmall said, describing the process of building new plants as "copy-paste".

☆ Volkswagen pauses on Europe battery plants, awaits EU response to IRA
▼ + stars: | 2023-03-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

"De facto it is the case that we are getting ahead far faster in North America," a person close to the matter said to Reuters, declining to be named. Asked about the report, a Volkswagen spokesperson said the carmaker was "still evaluating suitable locations for our next cell factories in Eastern Europe and North America. The company said in October last year it planned to firmly settle on a location for a plant in eastern Europe in the first six months of 2023. Schmall said he participated in a discussion with EU officials via the European Battery Alliance last week on what conditions were needed in Europe for battery production. These included state aid in line with China and North America, a raw materials strategy and affordable renewable energy, he said.

☆ Awaiting an IRA response, Volkswagen pauses decision on eastern Europe battery plant
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowMarch 8 (Reuters) - Volkswagen (VOWG_p.DE) is pausing plans for a battery plant in eastern Europe and prioritising building a plant in North America where it expects to reap 9-10 billion euros ($10.54 billion) in subsidies, the Financial Times reported on Wednesday. The company was waiting for a response from Europe to the U.S. $369-billion Inflation Reduction Act package before moving ahead with its plans in the region, the newspaper reported, citing sources with knowledge of the matter. Volkswagen board member Thomas Schmall posted on LinkedIn last week that Europe risked losing "the race for billions of investments that will be decided in coming months and years" to the attractive conditions offered by the IRA. The company said in October last year it planned to firmly settle on a location for the plant in the first six months of 2023. ($1 = 0.9489 euros)Reporting by Victoria Waldersee Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

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