Volkswagen, Northvolt to join forces for battery research

Volkswagen, Northvolt to join forces for battery research

Volkswagen and Swedish battery maker Northvolt and other companies as well as science labs are joining forces in battery cell research, the German carmaker said in a statement on Thursday.

89th Geneva International Motor Show in Geneva
FILE PHOTO: A Volkswagen logo is seen on a new car model at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Denis Balibouse

FRANKFURT: Volkswagen and Swedish battery maker Northvolt and other companies as well as science labs are joining forces in battery cell research, the German carmaker said in a statement on Thursday.

Starting in early 2020, the so-called European Battery Union (EBU) aims to accumulate know-how on battery cell production, including research on raw materials, cell technology but also the recycling of used batteries.

"All the partners will step up their investments as a result of the planned additional research activities," Volkswagen said, adding that they could seek funds from the German economy ministry.

Germany has earmarked 1 billion euros (US$1.14 billion) to support a consortium looking to produce electric car cells and plans to fund a research facility to develop next-generation solid-state batteries.

More than 30 companies have applied for the program to support the production of battery cells, the Economy Ministry said earlier this month.

(Reporting by Arno Schuetze; editing by Emelia Sithole-Matarise)

Source: Reuters

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