SALZGITTER (Germany), July 8 ― Volkswagen celebrated yesterday the beginning of work on its first in-house battery factory, as the German auto giant looks to head off...
SALZGITTER , July 8 ― Volkswagen celebrated yesterday the beginning of work on its first in-house battery factory, as the German auto giant looks to head off competition from US and Chinese electric vehicle upstarts.
“If Germany and Europe don't want to be left behind by the US and China, we need to focus more on the technologies of the future,” Diess said. Up until now both legacy carmakers like Volkswagen have largely relied on Asian, notably Chinese, battery makers to fit their vehicles. “Today is a good day for the automotive industry in Germany and Europe,” he said, adding that VW was paving the way in “sustainable, climate-compatible mobility”.Volkswagen's new PowerCo unit plans to invest more than €20 billion together with partners, with the aim of generating annual sales in excess of €20 billion and employing up to 20,000 people in Europe alone. Around 5,000 will be employed in Salzgitter.