Buy
Sell
Share Name Share Symbol Market Type
Volkswagen AG XE:VOW XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.35 3.91% 168.65 168.70 168.65 169.25 163.45 163.60 35,908 16:45:00

Volkswagen's PowerCo, Umicore Establish JV for Battery Materials

26/09/2022 8:40am

Dow Jones News


Volkswagen (XE:VOW)
Historical Stock Chart


From Aug 2022 to Feb 2023

Click Here for more Volkswagen Charts.

By Pierre Bertrand

 

Umicore SA and Volkswagen AG's battery company PowerCo have established a joint venture to produce battery materials in Europe, they said Monday.

The companies said 3 billion euros ($2.91 billion) will be invested in the Brussels-based venture, which aims to have a production capacity for 2.2 million fully electric cars by 2030.

Production is scheduled to start in 2025 but a location for the production site hasn't yet been found, the German car maker and the Belgian chemicals and recycling group said.

The joint venture will supply a large part of PowerCo's European gigafactories and secure Umicore's access to European demand for electric-vehicle battery materials.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

September 26, 2022 03:25 ET (07:25 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

1 Year Volkswagen Chart

1 Year Volkswagen Chart

1 Month Volkswagen Chart

1 Month Volkswagen Chart
Your Recent History
XE
VOW
Volkswagen
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20230202 20:56:04