Volkswagen increases investment in batteries

Eventually, the Volkswagen group plans 6 battery production plants in Europe. That of Northvolt, in Sweden, is one of them. The German giant is also extending the investment envelope to the tune of 500 million euros.

Like other groups, Volkswagen plans to have some independence in battery supply later this decade. It must be said that to reach one million electric sales per year, the question of the "battery" sector is at the heart of the debates.

The German group, which has already invested heavily in the Swedish Northvolt plant, will provide an additional €500 million, bringing VW's share in Northvolt's capital to 20%. Northvolt, for its part, wants to turn to more responsible batteries with 50% recycled metals in their composition from 2030.

In total, between Volkswagen and other private investors, Northvolt has already collected nearly six billion euros. With its planned factories, Volkswagen should have the equivalent of 240 GWh of batteries in Europe. The other great hope of the German group lies in its American partner Quantumscape, which could release the first so-called "solid" batteries in industrial quantities from 2025.