Umicore, Volkswagen to establish JV to produce EV battery materials

Belgian battery materials manufacturer Umicore and German automotive producer Volkswagen AG plan to establish a joint venture (JV) to build up electric vehicle (EV) battery precursor and cathode material production capacities in Europe to supply the latter’s European battery cell production, the company said on Wednesday December 8.

This partnership will be the first of its kind in the European automotive market, Umicore said. The JV will start to produce EV battery material in 2025, with an initial annual production of 20 gigawatt hours (GWh) for Volkswagen’s plant in Salzgitter, Germany....


Susan Zou

December 08, 2021

11:06 GMT