It is investing $20.4 billion between now and 2030 for a capacity of 240 GWh/year:
Volkswagen Group announced on Thursday that it is consolidating its battery development and production in a new project called Mission SalzGiga. The name refers to Salzgitter in Germany, where VW has built more than 63 million internal combustion engines—it has now broken ground on a massive new battery factory at the site, the first of six planned for Europe. Each plant should be able to accommodate an annual production capacity of 40 GWh, sufficient to power 500,000 electric vehicles.
To that end, the company has set up a new Salzgitter-based business unit called PowerCo that will cover all of the automaker's global battery activities. VW says it will require more than $20.4 billion (20 billion euros) in investment between now and 2030 but with an equal potential in revenue, plus the addition of 20,000 new jobs.
"In building our first in-house cell factory, we are consistently implementing our technology roadmap," said Thomas Schmall, VW board member in charge of technology. "PowerCo will become a global battery player. The company's major strength will be vertical integration from raw materials and the cell right through to recycling. In future, we will handle all the relevant activities in-house and will gain a strategic competitive advantage in the race to take the lead in e-mobility."
[...] VW wants to scale up rapidly, so it has standardized the design of the battery factories, which will use green electricity to operate, incorporating the ability to move to closed-loop recycling once the supply of old EV batteries makes that possible. The Salzgitter site will also have facilities for battery research and development in addition to large-scale production and recycling.
It seems calling a factory that makes batteries a "battery factory" doesn't cut it these days.
(Score: 3, Insightful) by Opportunist on Sunday July 10 2022, @12:46PM (5 children)
I was done with my bullshit bingo card before I was half through the article.
(Score: 3, Touché) by MIRV888 on Sunday July 10 2022, @01:30PM (4 children)
Domestic production of batteries? That's crazy talk. The Chinese do it real cheap and are totally trustworthy. I consider them a long term ally of Europe and 'Merca.
(Score: 3, Interesting) by Opportunist on Sunday July 10 2022, @01:41PM (1 child)
Well, it seems that there are certain changes [bloomberg.com] coming our way...
(Score: 2, Insightful) by crafoo on Sunday July 10 2022, @03:25PM
real power politics are taking a front seat, first time since the 90s. it's no longer a uni-polar world. China-Russia-India and associated satellite states form a powerful enough block to challenge USA democratic progressive cultural hegemony. Thankfully.
(Score: 0) by Anonymous Coward on Monday July 11 2022, @01:40PM (1 child)
Yeah, I think this will all end in tears (er... whiskers?)
Ramping up high volume battery production, along with the raw material supply chain, is a lot harder than just saying you are going to do it.
(Score: 2) by Freeman on Monday July 11 2022, @03:32PM
Perhaps, but one might think a group like Volkswagen, may have the experience to do it.
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"