Volkswagen to take Tesla route in EV industry. Details here

Volkswagen aims to become the top player in the global EV industry by introducing a range of electric vehicles to the market and through the supply chain route. The German car brand reportedly plans to become a global EV battery supplier and also plans to invest in mining, claims a report by Reuters. Interestingly, this strategy is very similar to Tesla, the current global electric car market leader.

By: HT Auto Desk
| Updated on: 25 Mar 2023, 16:40 PM
Follow us on:
Follow us on:
Volkswagen aims to become a global EV battery supplier and plans to invest in mining. (REUTERS)
Volkswagen aims to become a global EV battery supplier and plans to invest in mining.

The report claims that the largest automotive group in Europe aims to sell batteries to automakers such as Ford as part of its partnership and supply other brands in the future. Volkswagen Group's new CEO Oliver Blue said just last week that the automaker's EV partnership with Ford is intensifying, which is in contradiction with Ford's statement that it doesn't want to rely on Volkswagen over the long term.

Also Read : Was Elon Musk responsible behind a half-baked Autopilot?

Batteries are the most expensive component of any EV. In fact, batteries account for nearly 50 per cent of an EV's total price. On the other hand, with the rise of demand for electric vehicles is continuously pushing the need for batteries. As more carmakers switch to EVs, economies of scale are expected to help bring down battery costs.

Also check these Cars

Find more Cars
Volkswagen Id.4 (HT Auto photo)
UPCOMING
₹50 - 60 Lakhs* *Expected Price
View Details
It's Quiz Time ! Can you guess the Car Logos?
PLAY NOW
Tesla Model S (HT Auto photo)
UPCOMING
₹70 Lakhs - 1 Cr* *Expected Price
View Details
Tesla Model 3 (HT Auto photo)
UPCOMING
₹70 - 90 Lakhs* *Expected Price
View Details
Skoda Enyaq (HT Auto photo)
UPCOMING
₹50 - 55 Lakhs* *Expected Price
View Details
Jaguar Epace (HT Auto photo)
UPCOMING
₹50 - 60 Lakhs* *Expected Price
View Details
Mg 5 Estate (HT Auto photo)
UPCOMING
₹50 - 60 Lakhs* *Expected Price
View Details

Keeping a focus on this, more and more companies are showing keen interest in mining and refining materials that are required for EV batteries. Previously, Tesla disclosed a similar plan. Tesla CEO Elon Musk has been making this point clear for a time, and now Tesla is getting into mining, and now Volkswagen is also showing its intent to follow the same route.

Volkswagen's PowerCo battery unit is reportedly planning to grow exponentially and supply EV batteries globally in the future. The goal is for the unit to satisfy half of Volkswagen's battery needs while selling the rest to competing global brands, including Ford.

First Published Date: 25 Mar 2023, 16:40 PM IST
Recommended for you
View all
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
55% OFF
SOFTSPUN Microfiber Cloth - 4 pcs - 40x40 cms - 340 GSM Grey- Thick Lint & Streak-Free Multipurpose Cloths - Automotive Microfibre Towels for Car Bike Cleaning Polishing Washing & Detailing…
Rs. 269 Rs. 604
19% OFF
Involve Your Senses One Musk Organic Car Perfume, Involve Your Senses Strong Fiber Air Freshener to Freshen'up Your Car - IONE01-40 g,Car Accessories interior car perfumes and fresheners
Rs. 324 Rs. 399
73% OFF
pTron Bullet Pro 36W PD Quick Charger, 3 Port Fast Car Charger Adapter - Compatible with All Smartphones & Tablets (Black)
Rs. 349 Rs. 1,299
9% OFF
ShineXPro Microfiber Car Cleaning Cloth - OG Soft 500 GSM Extra Large (35x75 CM) Microfiber Cloth for Car and Bike - Suede Edging for Scratchless Drying and Detailing (Pack of 2)
Rs. 498 Rs. 549

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city