Volkswagen plans six large battery factories in Europe by 2030 to power sales of more electric cars while driving down battery prices and making electric vehicles more affordable for entry-level buyers.
Volkswagen said it would build on its existing battery production facilities at Salzgitter in Germany and with partner Northvolt in Skelleftea, Sweden, adding new production technology and a standardized cell that it said would cut battery costs by as much as 50%.
The world's second-largest carmaker by sales volume behind Toyota also outlined plans to work with partners to operate 18,000 fast-charging points in Europe by 2025, which it said would represent a five-fold expansion of what's currently available. Having more places to charge on longer trips is seen as another way to get more people to buy electric cars.
Battery costs are one reason electric cars are often more expensive than internal combustion equivalents. Europe's accelerating rollout of electric cars has been supported by expensive government and carmaker subsidies to bring the price down for consumers.
The Wolfsburg, Germany-based automaker on Monday outlined plans for a broad ramping up of its battery production during an online event dubbed “Power Day,” an apparent echo of competitor Tesla's annual “Battery Day” events where the company announces new steps in battery technology. Tesla is building a large battery factory near Berlin.
On top of the factory network, Volkswagen said it would introduce new battery technology and chemistry that aims to make production more efficient and lead to better performance, steps it said would help bring electric cars within the reach of more buyers.
“We aim to reduce the cost and complexity of the battery and at the same time increase its range and performance”, says Thomas Schmall, Volkswagen's technology chief. “This will finally make e-mobility affordable and the dominant drive technology.”
Last year Volkswagen tripled its production of electric cars to 422,000 to meet tougher European Union limits on average emissions of carbon dioxide, the primary greenhouse gas blamed by scientists for climate change. The company says it plans to produce 1.5 million a year by 2025.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
