Volkswagen AG invests in battery operations at Salzgitter
- Joint venture with Northvolt AB gaining further momentum
- Volkswagen to erect buildings and infrastructure for joint battery cell factory in Salzgitter and makes initial investment of some €450 million
The joint venture between Volkswagen Group and the Swedish battery producer Northvolt AB is gaining further momentum. It has been decided that Volkswagen itself will erect the buildings and infrastructure for the joint venture’s “Northvolt Zwei” factory that is to produce lithium-ion battery cells, in order to leverage synergies at the Salzgitter site – based on the existing Center of Excellence for Battery Cells. Some €450 million is to be invested in this project. The joint venture will then rent the factory space. Battery cell production at the plant is scheduled to commence in early 2024 with an initial production capacity of 16 gigawatt hours.
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