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Volkswagen, Umicore venture shows the circular EV battery economy is heating up

Jaclyn Trop of TechCrunch reports on Volkswagen’s efforts to create a circular battery economy.

The C3 Take
  • The $3 billion partnership between Volkswagen and Umicore will see Umicore producing enough cathode materials to power 2.2 million EVs by the end of the decade.
  • Cathode materials, which account for roughly half the cost of an EV battery, decide the power and capacity of a battery and are key to their longevity.
  • Through this partnership Volkswagen hopes to create a circular EV battery economy.

“The joint venture between Volkswagen and Umicore focuses on cathode materials, which account for roughly half the cost of an EV battery. The partnership will supply the six European battery plants Volkswagen plans to build by the end of the decade, starting in 2025 with its Salzgitter, Germany site.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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