The German automaker Volkswagen plans to build electric vehicle battery plants in Europe to expand its infrastructure and speed up mass adoption of battery-powered cars.
Volkswagen said that it plans to build six battery cell factories by 2030 in Europe with production capacity of 240 gigawatt hours per hour. A spokesperson said that’s enough to power four million Volkswagen ID.3 electric cars.
A spokesperson said that’s enough to power four million Volkswagen ID.3 electric cars.
The battery factories will operate in Salzgitter, Germany and Skellefteå, Sweden. The company is also planning to add a huge number of electric charging points to networks across Europe, china and united states.
The carmakers strategy holds in bringing down the cost of battery systems through a new unified battery cell, which is to be installed in up to 80% of the electric vehicles and will be launched by 2023.
Volkswagen also plans to recycle 95% of the raw materials involved in battery production.
Herbert Diess, The Chief Executive Officer of Volkswagen said
“The one size fits almost all cell design which will radically reduce battery costs … by up to 50% compared to today,”
“Lower prices for batteries means more affordable cars, which makes electric vehicles more attractive for customers.”
“E-mobility has become core business for us, a long-term pole position in the race for the best battery and best customer experience in the age of zero emission mobility.”
In a statement, Volkswagen said, the cost of the battery will make up the large proportion of the total cost of an electric car and will be reduced gradually by up to 50%in the basic models and by 30 % in standard models.
The shares of Volkswagen rose as much as 3.8%, plan cost wasn’t mentioned by the company, it said that it planned to spend around 35 billion euros ($41.7 billion) on e-mobility by 2025.
