VW strikes a deal with Canada to build EV batteries in North America:
Volkswagen signed a memorandum of understanding with the Canadian government to "explore opportunities" to bring some of its electric vehicle battery manufacturing to the country.
The move is seen as an effort to ensure that the automaker's plug-in vehicles qualify for the US's revamped EV tax credits, which place stricter requirements on where battery and vehicle manufacturing can be done.
VW says it plans to build a "dedicated Gigafactory" somewhere in North America, and today's agreement most likely increases Canada's chances of being selected as the location.
The automaker is tasking its battery supply management company, Power Co, with spearheading the site search as well as sourcing key ingredients for EV batteries, like nickel, cobalt, and lithium. Power Co will also play a key role in cathode production in North America, VW says.
Last year, VW unveiled plans to build six battery cell production plants in Europe by 2030, including the facility in Salzgitter, Germany, and one in Skellefteå, Sweden. A third plant will be established in Valencia, Spain, and the fourth factory will be based in Eastern Europe. The plants will eventually have a production capacity of 240 gigawatt-hours a year.
(Score: 0) by Anonymous Coward on Thursday August 25 2022, @08:30AM
I am shocked, shocked I tell you. It's like they don't like having someone's fist squeezing their balls. How strange.
(Score: 4, Interesting) by crafoo on Thursday August 25 2022, @09:50AM
Alexander Hamilton was right. Domestic manufacturing is the foundation of a nation. He was 21 in 1776 BTW. His famous Report on Public Credit and Report on National Bank were written ~12 years later. Very much worth reading, if you are interested in taxes, tariffs, how to build a country's economy, and dealing with foreign debt issues.