Recently, Volkswagen AG, German auto manufacturer released a statement claiming that the decades old firm was investing over one billion for producing battery cell at a manufacturing facility hailing from Germany’s western part.
Besides this, the automotive manufacturer also revealed that the firm has been seeking for options to streamline its group by either selling units or going through a spin-off. After the supervisory boardroom meeting held on Monday, the leading manufacturer of 2018 revealed in a statement that they will be installing a facility for battery on Lower Saxony under an alliance. But, Volkswagen didn’t reveal the name of the company, there were planning to merge with.
From the start of war over e-vehicle dominance, battery cells have always been an essential part for the automotive market. Presently, the industry is completely dependent on Asian manufacturers’ sources. They will also be streamlining their business that presently has more than twelve brands inclusive of cars, motorbikes, trucks, electric bi-cycles, and buses.
Post the board meeting that seemed to targeting on possible revamps, the firm’s Hans Dieter Poetsch, who is the supervisory Board Chairman explained that considering the complications of the industry and associated issues, it is important to concentrate on their main business.
Currently, the firm is the most motivated one to transform their vehicles into an electric future. By 2028, Volkswagen plans to provide around seventy battery-powered models. In order for the plan to be implemented, the firm is retooling sixteen factories to manufacture electric cars. It is prompting suppliers to increase the production of battery & has already locked in supplies for battery for at least fifteen million vehicles.
In April, reports surfaced that said Volkswagen’s luxury arm Audi will manufacture less electric E-tron SUVs than predicted due to shortage of battery.
Volkswagen didn’t reveal details about when the plant will be installed, when it will start operating and what capacity they will provide. Moreover, VW isn’t the only company encouraging electric vehicles, several other automakers such as Volvo, General Motors, Ford, Mercedes-Benz, and BMW have revealed plans to launch a range of new electric vehicles models in the near future.