Sommer: With electromobility we all know: if it does not work for Volkswagen, then it won’t work for others, — Reuters
LEIPZIG: Volkswagen will create joint ventures and help finance battery production to persuade sceptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters.
Volkswagen has said it would buy 50 billion euros (US$56.57bil) worth of battery cells and has identified Sweden’s Northvolt, South Korea’s SKI, LG Chem and Samsung SDI as well as China’s CATL as strategic partners.
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