Volkswagen and the Bosch have committed to a joint venture to significantly upscale Volkswagen’s battery factories, with an aim of making the firm self-sufficient in European battery-cell production.
The car maker and component supplier signed a memorandum of understanding that will ensure the “entire range of processes and components” will be sourced within Europe, aiming for “cost and technology leadership in the industrialisation of battery technology”.
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They aim to form the new company by the end of 2022.
