Volkswagen announced a blockbuster investment in new EV and battery development that will greatly increase its North American manufacturing presence.
Volkswagen expects this process to yield the raw materials needed for new battery production, such as copper, aluminum, lithium, manganese, cobalt and graphite.
Volkswagen’s strategy chief, Michael Jost, told attendees at the Handelsblatt automotive summit conference on Tuesday that the company will launch its last generation of gas-powered cars in 2026.
“With the planning round now approved, we are laying the foundation for making Volkswagen the world’s No. 1 player in electric mobility by 2025.”