“Volkswagen is taking e-mobility to the mainstream. A strong position in the field of batteries is a decisive factor in this regard”, said Frank Blome, Head of the Battery Cell business, Volkswagen Group Components. “We are securing our global supply base with efficient producers, gradually building up manufacturing capacities and driving the development of cutting-edge solid-state battery technology. Our focus in this context is on long-term strategic partnerships.”
Solid-state batteries are seen as the most promising technology for the next-but-one generation of e-mobility. With the same size of a current battery pack, the solid-state battery could enable electrical ranges at the level of conventional drives. Moreover, charging time could be significantly shortened.
The Volkswagen Group has already been collaborating with QuantumScape since 2012, and is the largest automotive shareholder with its previous investment of over US$100 million. Closing of the new additional investment of up to US$200 million and the associated increase of Volkswagen’s stake in QuantumScape is still subject to various conditions. The two partners formed a joint venture in 2018 to enable industrial-level production of solid-state batteries for Volkswagen. Both partners envisage setting up a pilot plant. The plans are envisaged to be firmed up in the course of this year.
Expanding e-mobility is an important building block on the road to a carbon neutral balance for the company as a whole. This goal is to be achieved by 2050. The Volkswagen Group is therefore fully committed to the goals of the Paris Climate Agreement.
Press Release Courtesy of Volkswagen Group News
Image Courtesy of Volkswagen