VW Looks To Canada For First Battery Manufacturing Plant Outside Europe | Carscoops carscoops ⚠️
signed memorandum of understanding with Canada to secure mineral access and shorten supply chains for EV manufacturing in North America. The agreements will help the companies gain access to lithium, nickel, and cobalt., which offers preferential tax incentives for vehicles whose batteries are made with materials sourced from America and its allies. According to German Chancellor Olaf Scholz, though, the memorandum would also help reduce Germany’s reliance on Russia for energy and raw materials.
In addition, Volkswagen also announced an MoU with Belgium’s Umicore, that will see the companies intensify their cooperation. In September, the automaker announced a $2.9 billion battery parts joint venture with the company. This summer, meanwhile, Umicore committed to spending $1.5 billion CAD to build a manufacturing plant for cathode and precursor battery materials in Kingston, Ontario, which is located close to Toronto, Ottawa, and upstate New York.
According to VW, cathodes represent about 50 percent of the total value in a battery cell, making the plant an important one for the automaker. With this new MOU, the automaker is looking to secure the supply of enough cathodes to make 40 GWh per year at the site of its upcoming, North American battery cell plant.
“Taking our partnership across the Atlantic would foster Umicore’s and PowerCo’s shared strategic convictions of enabling and accelerating clean mobility on a secure and sustainable local-for-local basis,” said Ralph Kiessling, EVP of energy and technologies at Umicore. “For Umicore, a long-term cooperation with PowerCo would support our plans to build Canada’s first-of-its-kind precursor and cathode materials facility.
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