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.
Bambu Ventures's Kyle Pretsch dives into Lemonaid’s $10M buyout, down from 23andMe’s $400M price tag, and what’s next after Chrome Co.’s dramatic pivot.
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Grove Collaborative’s CEO shares how the company is reinventing everyday goods with sustainability at the core and working toward a plastic-free future.
Atlanta Mayor Andre Dickens shares plans for affordable housing, community-led growth, and why private and public grocery stores could be key to food equity.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
Tom’s Guide Editor-in-Chief Mark Spoonauer breaks down Apple & Amazon's latest product drops—what's hot, what's hype, and what really matters for users.
