The Supervisory Board and the management Board of Volkswagen AG took important decisions for the future of the Volkswagen Group. Through active electrification, the company intends to build a new plant for the production of batteries in Europe.
With this purpose, the Supervisory Board approved investments in the amount of slightly less than €1 billion in a New plant for the production of batteries will be built in the lower Saxony region. The company must meet all the current challenges of the company, which plans to bring to market 3 million electric cars by 2025 under all brands within the Volkswagen group.
We will remind that earlier for these purposes, the Volkswagen was negotiating with many major suppliers of batteries, in particular with Korean battery manufacturer SK Innovation, but it may be difficult because of threats to stop supplying batteries for electric cars VW from LG Chem.
Recall, Volkswagen will create the Salzgitter plant for recycling of batteries of electric vehicles, and the Volkswagen Group and other partners want to form the European Union batteries (EBU).