Volkswagen hikes battery cell demand in EV expansion push: Sources
Volkswagen requires about 300 gigawatt hours (GWh) worth of battery cells a year by the end of the decade for its ambitious rollout of electric vehicles in Europe, two people familiar with the matter told Reuters.
The supply chain update is part of the world's second-largest carmaker's strategy to raise the share of fully electric vehicles in Europe to more than 70% by 2030 at its core brand, details of which were unveiled last week.
So far, Volkswagen, which sources batteries from LG Chem , Samsung SDI, SK Innovation and CATL, expects annual demand in Europe to be more than 150 GWh from 2025 and to be at a similar level in Asia.
Chief Executive Herbert Diess and Thomas Schmall, Volkswagen's board member in charge of technology, will unveil details of its battery and charging infrastructure strategy during a Power Day event scheduled for March 15.
Volkswagen declined to comment.
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