Volkswagen establishes a European company to consolidate EV battery value chain activities

Corporate developments

VW earmarks USD2.26 billion to set up a Gigafactory in Salzgitter, its designated HQ for EV battery division

German carmaker Volkswagen has set up a European company named Société Européenne in an attempt to consolidate all EV battery value chain activities, ranging from processing raw materials and developing a unified battery to managing the upcoming gigafactories in Europe, the company announced on 13 December 2021.

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