William Boston of The Wall Street Journal reports on VW’s efforts to diversify its EV supply chain.
- VW is hoping to move on from China and is in talks with Canada, Chile, and Australia to get the necessary critical minerals that are needed to power their EVs.
- The automaker is building its largest critical mineral factory to date in St. Thomas, Ontario near deposits of lithium, nickel, and cobalt.
- With vast deposits of critical minerals, the United States could play a significant role in helping VW diversify its supply chain.
- To do so, policymakers must modernize permitting requirements to allow more mines to open.
“PowerCo, a subsidiary VW created last year, is leading the company’s search for natural resources and other critical battery ingredients. Ultimately, VW wants to secure its own supplies for battery plants outside China and not have to rely on Chinese suppliers for battery materials, most of whom are in China, VW board member and technology chief Thomas Schmall told The Wall Street Journal.”
Read the full article here.