Volkswagen maps out its plan for battery cell production

In relation to this company’s supervisory board has approved investments of just under one billion euros. The plan is to locate a battery cell production facility in Lower Saxony (Salzgitter), Germany. It was also decided to begin concrete negotiations on the planned new multibrand plant in Europe with the remaining potential locations. In addition, the supervisory board also requested that the management start the process to develop a forward-looking, industrially meaningful solution for MAN Energy Solutions (ES) and RENK AG. The focus here lies on opening future-oriented growth perspectives for mechanical engineering in the group, for example though a joint venture, partnerships, or a full or partial sale. “We approved important strategic decisions for the Volkswagen Group at today’s Supervisory Board meeting. As part of our comprehensive electrification offensive we plan to secure our battery capacities through strategic partnerships. At the same time, we wish to expand our production capacities in Europe to support our growth plans,” says Supervisory Board Chairman Hans Dieter Pötsch, in a press release. Volkswagen CEO, Herbert Diess, echoes the chairman saying that the automotive industry is in the midst of a fundamental transformation, a transformation that very much also includes Volkswagen. “We are pressing ahead with the electrification and digitalization of our fleet like no other automotive company. At the same time, we are building up innovative business areas over the coming years to cater for innovative mobility services. This is about aligning the Volkswagen Group to play a decisive role in shaping the sweeping transformation of our industry. Today’s decisions are important milestones for the future of Volkswagen,” Herbert Diess says.