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| Name | Symbol | Market | Type |
|---|---|---|---|
| Volkswagen AG (PK) | USOTC:VWAPY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.11 | 0.98% | 11.36 | 11.30 | 11.36 | 11.412 | 11.32 | 11.39 | 178,690 | 21:00:28 |
From Jul 2023 to Jul 2024
By Pierre Bertrand
Umicore said that its electric-vehicle battery materials joint venture with Volkswagen's PowerCo will be called Ionway.
The Brussels-headquartered company will supply the factories of PowerCo, Volkswagen's battery maker, with key materials and will cover a large part of PowerCo's demand in the European Union, Umicore said.
Ionway will also provide Umicore with access to a so-called "important part" of the European demand for electric vehicle cathode materials, the company added.
Ionway's annual production capacity is expected to reach 160 gigawatt-hours by the end of the decade, the equivalent to 2.2 million battery-electric vehicles, Umicore said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 06, 2023 05:03 ET (09:03 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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