Volkswagen AG and Northvolt AB have created a 50/50 joint venture to build a factory for lithium-ion batteries. Construction of the production facility is scheduled to start in Salzgitter (Lower Saxony) in 2020. Start of production is planned for the end of 2023/beginning of 2024.
As part of the electrification strategy, the Volkswagen Group alone has an annual demand of more than 150 gigawatt hours from 2025 in Europe – and also in Asia at the same level.
The Group is planning to launch almost 70 new electric models in the next ten years. As a result, the projected number of vehicles to be built on the Group’s electric platforms in the next decade will increase to 22 million. Volkswagen is therefore investing more than €30 billion into the electrification of the fleet by 2023.