MANILA: The Volkswagen Group and Bosch have inked a partnership to establish an EV battery solutions company, which aims to industrialize battery cell manufacturing in Europe.
Through the partnership, the VW Group and Bosch plan to supply manufacturers the range of processes and components needed for the largen production of battery cells and systems.
In a release, the firms said they aim to accomplish the said goal by combining Volkswagen's knowledge in battery cells and manufacturing, and Bosch's supplying of factory equipment.
Both companies are preparing to set up the new company by the end of 2022, the release added.
As both firms plan to help and lead fellow European manufacturers, carbon-neutral mobility will be accomplished. The companies share a goal of volume production of "sustainable, cutting-edge batteries."
In Europe alone, the VW Group plans to build six cell factories by 2030. Other companies plan to build cell factories with a total yearly capacity of around 700 gigawatt-hours by 2030.
The memorandum of understanding for the partnership was signed by the following members of the VW Group and Bosch: VW Group components CEO Thomas Schmall, and Bosch Chairman of the Executive Board Rolf Najork.
Photos from Volkswagen
Also read: Volkswagen partners with 3 firms for EV battery production, tech
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