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Volkswagen announced
its plan to build six battery factories in Europe, each with a capacity of 40
gigawatt-hours, at its livestreamed "Power Day" event.
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All
of the factories will be in operation by 2030, with the first one up and
running by 2023. They're part of Volkswagen's plan to gain more control of its
EV supply chain.
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VW
also outlined plans to make batteries cheaper, reducing EVs' costs by 30
percent or more, and to recycle 95 percent of components in its batteries.
Volkswagen has been
clear about its goal of leading in electrification, and at a livestreamed Power
Day event earlier today, the automaker revealed the latest part of its plan to
do so: building six new battery factories across Europe. The plants, VW says,
will all be in operation by 2030 and will each have a capacity of 40
gigawatt-hours. For comparison, Tesla claims that its Nevada Gigafactory 1 has
an annualized 35-GWh rate. VW also said it is developing a way to recycle
nearly all of its battery components and to cut the price of electric vehicles
by 30 to 50 percent.
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