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Volkswagen Ventures in the EV battery business

Volkswagen Ventures in the EV battery business 

Volkswagen Group (VW) held a groundbreaking in Salzgitter, Germany, the site where its electric vehicle (EV) battery cell plant will be built. This creates a new company, called PowerCo. Powerco will be responsible for handling VW’s battery business, as reported by Engadget.

PowerCo will be responsible for battery activities globally, from battery manufacturing to R&D on new battery technologies.
The plant in Salzgitter will create 5,000 new jobs when it starts operating in 2025. Its annual capacity will be 40 GWh.

More EV battery cell plants to come

Once the plant in Germany is completed, Powerco will work on its second plant in Valencia, Spain. VW is also looking at building three more cell factories in Europe and North America.
VW’s plans include running European factories with 100 percent renewable energy.
In total, Powerco’s mission is to have at least six battery factories in Europe with a capacity of 240 GWh per year, which will support VW’s goals of having at least half of the EV lineup by 2030.
Also Read: Volkswagen Group Head Position Automaker Can Beat Tesla In EV Sales By 2025
More ambitious goals for the future of EV
VW recently shared its new auto strategy, as reported by CNBC. The company Volkswagen aims for EVs to represent half of all their sales by 2030, and that sales in nearly all markets will be EVs by 2040.
Therefore, VW already has plans to support this mission, including a car software platform with the help of their development firm, Cariad, which will create a unified infotainment system in 2023, a new platform in 2025 Along with the farm, they also want to stop. Sales of combustion engine cars in Europe by 2035.

Sustainable vehicles are the future

The move shows a future of stability for the company as it lays the groundwork to shape its future even more significantly.
The world is in great need of vehicles that charge using sustainable energy. This can be achieved by using renewable energy through wind farms and solar farms.
Smart charging can also be used to charge electric vehicles using energy stored in other vehicles at home or in the office. Electric vehicles are one of the best ways to reduce carbon emissions and prevent climate change due to their high electrical efficiency.
Along with the need to reduce air pollution and increase travel efficiency. The need to promote sustainable vehicles is very important.
VW is leading the way in this direction by investing in sustainable vehicles. This is a bold step into a green future and hopefully other auto companies will follow suit.
If the company continues with its plans, it could become a major player in the EV industry.

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