Home » Volkswagen towards the listing of the division dedicated to batteries

Volkswagen towards the listing of the division dedicated to batteries

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CEO Herbert Diess had let it flash a month ago, on the sidelines of the communications on the accounts for the first quarter. This was reiterated by the chief technology officer of the first European car manufacturer, Thomas Schmall: the Volkswagen group is considering an IPO for its new battery division. Therefore, not the individual plants, 6 for a capacity of 240 GWh by 2030, which was discussed in March during the Power Day, but the entire business. “We are not ruling out anything for the moment,” Schmall told the German business newspaper Handelsblatt. The German group is planning partnerships to reduce billion-dollar costs and is also looking for investors to embrace the project, of which Schmall is responsible for all brands, as a member of the board of directors of the Technology division of Volkswagen AG and CEO of Volkswagen. Group Components.

The first two battery factories will be operational in Sweden in Skelleftea (operational from 2023 with a production capacity that will be gradually increased to 40 GWh) and in Germany in Salzgitter (operational from 2025, again with a capacity of 40 GWh). The Swedish factory is operated by Northvolt, the specialist company in the sector in which Volkswagen is a shareholder with about 20 percent of the capital, a stake that is set to rise. Northvolt as part of the agreement with VW will instead sell its stake in the joint venture for the Salzgitter plant, which will therefore be managed only by Volkswagen.

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According to Schmall, the group’s plan is enough to equip more than five million cars with batteries. For China and the factories on the American continent, the United States and Mexico, more factories should probably be added. But VW could also see greater demand for Europe, for example for the Traton commercial vehicle division, which mainly needs batteries rather than fuel cells, even for long-haul trucks.

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Volkswagen is also preparing to enter the business of valuable raw materials needed for production. “We will also have to go in this direction: we are looking at the entire process chain, from mining to recycling. We have to actively enter the raw materials sector, ”Schmall emphasized. The group is currently preparing large-scale recycling at a pilot plant in Salzgitter and has high hopes for solid-state battery development with its US partner QuantumScape. “We expect to see the first pilot plants for series production in 2025 or 2026,” concluded Schmall.

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