Volkswagen seeks partnerships for battery materials 'race'

FILE PHOTO: The logo of German carmaker Volkswagen is seen on the wall of a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir/File Photo

FRANKFURT (Reuters) - Volkswagen, Europe's largest carmaker, is in talks with suppliers to secure direct access to raw materials for electric vehicle (EV) batteries via partnerships, one of its board members said.

Europe's biggest carmaker is trying to extend its control over the industry's supply chain, which gives those with direct access to chips and lithium a decisive advantage to navigate bottlenecks and run plants at full capacity.