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Volkswagen Starts Construction On First In-House Battery Factory In Effort To Compete With US And Chinese Rivals:

Volkswagen plans to produce batteries for 5 lakh vehicles annually by investing EUR 2 billion (approximately Rs 16,100 crore) in the battery factory until 2026.

Highlights:

• Western auto behemoths are eager to in-house manufacture.
• Volkswagen and its partners intend to open six facilities throughout Europe.
• Sweden-based joint venture with battery manufacturer Northvolt will debut in 2023.

As the German automotive giant attempts to stave off competition from US and Chinese electric vehicle upstarts, Volkswagen hailed the start of construction on its first in-house battery factory on Thursday.
According to CEO Herbert Diess, the company intends to “lead the international battery attack” from its new facility in Salzgitter, central Germany, where German Chancellor Olaf Scholz was present.

Volkswagen has invested a total of EUR 46 billion (approximately Rs. 3,69,900 crore) over the next five years in the push to become the largest electric vehicle producer in the world by 2025.
We need to concentrate more on developing future technologies, said Diess, if Germany and Europe don’t want to fall behind China and the US.

Volkswagen’s electric ecosystem will be centred in the Salzgitter facility, where thousands of internal combustion engines are now produced each day.
The battery factory will receive EUR 2 billion (approximately Rs. 16,100 crore) in investments until 2026, with the capacity to produce batteries for 5,000 vehicles annually.
A fleet of battery plants in Europe will be built according to the plan as well.

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Volkswagen Starts Construction On First In-House Battery Factory

Up until recently, Asian battery manufacturers, particularly Chinese ones, have been a major source of supply for both traditional automakers like Volkswagen.
In order to minimise supply disruptions and capture the value generated by battery production, Western car titans are eager to move production in-house.

Manufacturers’ “reliance” on far-off suppliers has proven to be a “huge danger,” according to Scholz, who put the final component of a ceremonial foundation battery.
He said that VW was leading the way in “sustainable, climate-compatible mobility,” saying “Today is a fantastic day for the automobile sector in Germany and Europe.”

By 2030, Scholz claimed, the largest economy in Europe hoped to have 15 million electric vehicles on the road.
In order to generate annual sales in excess of EUR 20 billion (approximately Rs 1,60,900 crore) and employ up to 20,000 people in Europe alone, Volkswagen’s new PowerCo company wants to invest more than EUR 20 billion (about Rs 1,60,900 crore) with partners. In Salzgitter, about 5,000 people will be employed.

According to Diess, Volkswagen has a total of six plants it wants to open in Europe alongside partners, with a seventh one planned for the US.
The first, a joint venture with the battery manufacturer Northvolt, will debut in Sweden in 2023, and the Salzgitter location will follow in 2025.
Volkswagen has chosen Valencia, Spain, as the location for a battery plant, and talks are ongoing for additional sites in other regions with active production facilities in Europe.
Tesla, a significant rival, just constructed its first manufacturing in Europe outside of Berlin. It is planned to add a battery facility to the Gruenheide site.

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