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Volkswagen Group and Canada try to advance sustainable battery supply chain in THE UNITED STATES

– Volkswagen signs agreement with Prime Minister Justin Trudeaus government on battery value creation and raw material security

- Volkswagen Groups battery company PowerCo pushes ramp-up of its global battery business, further proof Volkswagens ambitious growth strategy in THE UNITED STATES


TORONTO WEBWIRE

Volkswagen AG and the federal government of Canada try to promote e-mobility in the united kingdom also to explore opportunities across Canadas automotive and battery supply chain. This is agreed in a Memorandum of Understanding (MoU) signed today in Toronto by Volkswagen CEO Herbert Diess and Canadas Minister of Innovation, Science, and Industry, Franois-Philippe Champagne, in the current presence of German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau. Both parties will investigate opportunities for Canada to donate to Volkswagens global and regional battery supply chains. PowerCo, the newly founded battery company of the Group, includes a central role in these efforts and can drive forward the planned cooperation in the fields of battery value creation, recycleables supply chains and cathode material production in the UNITED STATES region.

PowerCo SE is in charge of all global Group activities across the battery value chain, securing battery cell supply for Volkswagens e-mobility push. The rapidly growing global battery cell business is really a key pillar of Volkswagens NEW AUTO strategy, which aims to create Volkswagen the best provider of sustainable and software-driven mobility. The program would be to quickly build-up highly standardized cell production capacities totaling 240 gigawatt hours each year in Europe alone. Furthermore, you can find plans to determine a separate gigafactory in THE UNITED STATES. Possible production sites are being examined.

Olaf Scholz, Chancellor of the Federal Republic of Germany: I welcome that Volkswagen and Canada have signed a Memorandum of Understanding on battery value creation today. That is excellent proof that the cooperation with this good friends and allies in Canada is further deepening also in the context of raw material security and could encourage others to check out.

The Honourable Franois-Philippe Champagne, Minister of Innovation, Science and Industry, said: Canada is quickly becoming the green supplier of preference for major auto companies, including leading European manufacturers, once we transition to a cleaner, greener future. By partnering with Volkswagen, Canada is strengthening its leadership role as a global class automotive innovation ecosystem for clean transportation solutions. Canada is focused on creating a strong and reliable automotive and battery supply chain within North America to greatly help the planet meet global climate goals.

Dr. Herbert Diess, CEO of Volkswagen Group: Volkswagen has been vigorously pushing the transformation to e-mobility, recognizing the industrys responsibility in the global battle against climate change. The Group today not merely supplies the broadest selection of electric models to customers but can be rolling out an ambitious battery and charging strategy. Working together with governments all over the world can be an absolute prerequisite to meet up our climate goals and I wish to thank the Canadian government for his or her support. The way to obtain battery recycleables and the production of precursor and cathode materials with a minimal carbon footprint permits an easy and sustainable ramp-up of battery capacity an integral lever for the growth strategy in THE UNITED STATES.

Thomas Schmall, Volkswagen Group Board of Management member for Technology: Being an automaker, we see compliance with stringent sustainability criteria as a high priority. For all of us, the option of power from renewable sources and a recycleables sector with mines supplying materials conforming to the globally recognized environmental and social standards are crucially important. This is why Canada can be an ideal partner for the e-mobility and battery strategy.

Joint statement regarding sustainable battery manufacturing and reliable raw material supply

For the development of sustainable battery production, both parties plan to boost cooperation predicated on recognized ESG (Environment, Social, Governance) criteria between PowerCo and the Canadian mining sector, that is regarded as a world leader when it comes to responsibility and transparency. For this function PowerCo is likely to set up a new, dedicated liaison office in Canada. An integral focus of cooperation may be the way to obtain critical recycleables such as for example lithium, nickel and cobalt.

Both parties see significant prospects for Volkswagen and PowerCo to crank up cathode material production as well as partners also to offer Canadian suppliers a chance to become raw material suppliers, refiners and processors.

Using its vast raw material resources, good infrastructure and highly developed automotive industry with considerable production expertise and highly qualified workforce, Canada sees itself outstandingly well-positioned for joint projects.

Schmall commented: THE FEDERAL GOVERNMENT of Canada is really a forward-thinking, effective enabler of businesses creating future-proof, well-paying jobs for Canadians, particularly in the green economy. That is one reason Volkswagen and PowerCo are excited to utilize this approachable partner offering promising cooperation and engagement at all degrees of government.

NEXT THING of Growth Technique for THE UNITED STATES

The Volkswagen Group brands intend to provide most comprehensive electric product portfolio in THE UNITED STATES with an increase of than 25 battery-electric models by the finish of the decade; simultaneously, strong regional capabilities for EV research and development, vehicle assembly, component production and offer relationships are increasingly being expanded over the UNITED STATES continent.

Were focused on bringing electric mobility to consumers and communities in THE UNITED STATES. Todays agreement between your Volkswagen Group and the federal government of Canada will enable us to work closely with local suppliers and expand our capabilities, said Pablo Di Si, incoming President and CEO, Volkswagen Band of America, Inc. We continue steadily to spend money on electrification with plans to launch a lot more than 25 battery-electric vehicles planned by 2030. A broad-based way to obtain recycleables from over the region will undoubtedly be key to aid our ambitious growth plans.

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