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VW Says Its EV Battery Needs Are Secured through 2023
Volkswagen AG says it has lined up sufficient supplies of batteries for its electric vehicles for the next four years.
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Volkswagen AG says it has lined up sufficient supplies of batteries for its electric vehicles for the next four years.
The company expects to be building some 330,000 EVs annually by 2021 to power EVs sold under the Audi, SEAT and VW brands. The VW brand alone aims to achieve annual global output of 1 million EVs by 2025.
The first of VW’s new EVs, the ID.3 five-door compact hatchback (pictured), will begin deliveries next year. The $34,000 cars promises a range of 330-400 km (205-260 miles), depending upon the battery installed.
VW has secured four battery suppliers for Europe, China and the U.S.: LG Chem Samsung and SK Innovation in Europe, CATL (Contemporary Amperex Technology Co. Ltd.) in China and, beginning in 2022, SK Innovation in North America.
The carmakers also has agreed to invest €900 million ($1 billion) in Northvolt AB, the Swedish startup that aims to begin making EV batteries by early 2024.
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