08 Jul 2022 | Volkswagen Enters Global Battery Business

Jul 08, 2022, 11:05 AM

➤ Volkswagen CEO says EV outlook is ‘very good,’ expects to reduce delivery times this year
➤ Volkswagen announces $20 billion effort to build its own EV batteries
➤ Ground breaking in Salzgitter: Volkswagen enters global battery business with “PowerCo”
➤ Hot Hyundai IONIQ 5 N Testing Around The ‘Ring
➤ EU Clamps Down On Fake PHEV Models
➤ China Looking to Extend EV and Car Tax Exemptions3
➤ West Coast EV charging network EVCS raises $68.8M to expand fast charger footprint
➤ More Americans Would “Definitely” Get Electric Vehicles, Consumer Reports Survey Shows
➤ SAIC to Launch 16 Electric Car Models Based on New Nebula Platform
➤ SAIC sells 91,297 NEVs in June, up 27% from May
➤ Tesla Virtual Powerwall Update

Show #1525

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VOLKSWAGEN CEO SAYS EV OUTLOOK IS ‘VERY GOOD,’ EXPECTS TO REDUCE DELIVERY TIMES THIS YEAR

"The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor supplies on Thursday, predicting delivery times for EVs will get shorter as the year progresses." "We're trying to keep delivery times short," Diess said, "but we have a lead time of a year or so currently, so we are ramping up production … five assembly plants are coming into production now. We will see a ramp-up in the second half of the year to really be able to reduce delivery times for our EVs," he added. "There's high demand in Europe and also in the United States."  By the year 2030, VW says it wants at least 70% of its European revenue to come from electric cars. In China and North America, its goal is at least 50% of revenue from EVs."


VOLKSWAGEN ANNOUNCES $20 BILLION EFFORT TO BUILD ITS OWN EV BATTERIES

"Volkswagen said it would invest $20.38 billion to build electric vehicle batteries, a move the company says will create 20,000 jobs and generate $20.38 billion in annual sales. The automaker will create a new company called Power Co to oversee the vast effort as VW races to secure enough capacity, materials, and supplies to power its EV ambitions. Power Co will manage VW’s entire battery supply chain, from research and development of new technologies to the mining of the raw materials to end-of-life recycling. The news was announced at a groundbreaking ceremony for the company’s first battery plant in Salzgitter, a city in Germany’s Lower Saxony. “The battery cell business is one of the cornerstones of our New Auto strategy which will make Volkswagen a leading provider of the sustainable, software-driven mobility of tomorrow,” VW CEO Herbert Diess said in a statement. “Establishing our own cell factory is a megaproject in technical and economic terms. It shows that we are bringing the leading-edge technology of the future to Germany!”


GROUND BREAKING IN SALZGITTER: VOLKSWAGEN ENTERS GLOBAL BATTERY BUSINESS WITH “POWERCO”

"Salzgitter is to be a blueprint for cell factories throughout Europe and will set new standards in terms of sustainability and innovation. “What we have put to the test millions of times over with vehicle platforms such as the MQB and MEB will also lay the foundation for establishing cell production: we will be standardizing on the basis of European standards and upscaling. This way, we will combine speed and cost optimization with the highest quality levels“, said PowerCo CEO Frank Blome. Standardization will not only cover equipment, buildings and infrastructure but also products, processes and IT. This way, factories that can rapidly be converted for further product and production innovations will be created. Each factory will be operated 100 percent on electricity from regenerative sources and will be designed for future closed-loop recycling. Volkswagen also unveiled the prismatic unified cell announced at the Power Day in 2021. This allows the flexible use of a raft of different cell chemistries and will be used in up to 80 percent of all Group models. At Salzgitter, unified cells for the volume segment are to be produced from 2025 onwards. In future, the plant is to reach an annual capacity of 40 GWh – enough for about 500,000 electric vehicles. The new unified cell harnesses synergy effects and will reduce battery costs by up to 50 percent. The prototypes produced to date have demonstrated highly promising performance with respect to range, charging times and safety – essential prerequisites for a future industrial standard."


HOT HYUNDAI IONIQ 5 N TESTING AROUND THE ‘RING

"The first electric Hyundai to wear the new N performance badge is the Ioniq 5. Our spies have sent us photos showing different prototypes testing, but this is the first time we are actually able to see one of these test vehicles on the move.   the suspension setup does appear to be considerably stiffer than on lesser versions, so the driving experience should be transformed too. Hyundai has so far not made any performance numbers public, but the Ioniq 5 N will probably have similar power to the EV6 GT, which has 576 horsepower and sprints to 62 mph (100 km/h) in 3.5 seconds, topping out at 161 mph (260 km/h)."


EU CLAMPS DOWN ON FAKE PHEV MODELS

"Last year, Transport & Environment reported that many PHEV cars for sale in Europe actually use their gasoline engines almost all the time, leading to far more emissions than claimed. The latest data shows that, on average, privately owned PHEVs emit three times more carbon dioxide — and therefore use three times more fuel — than recorded officially. For company cars it is even worse. Plug-in hybrids emit five times more than their official ratings. In theory, a plug-in hybrid has a smallish battery that allows it to travel on electric power alone for 20 miles or so without using the internal combustion engine at all. Beginning in 2025, the EU will significantly reduce the so-called utility factors, which is the share of electric driving that regulators use for calculating CO2 emissions of PHEVs. From 2027, the utility factors of plug-in hybrids will be fully aligned with how they are driven in the real world."


CHINA LOOKING TO EXTEND EV AND CAR TAX EXEMPTIONS

"China is looking to extend a tax exemption for new electric vehicles (EVs) as part of efforts to encourage car purchases, the Ministry of Commerce said on Thursday. The ministry also unveiled measures to encourage trade-ins of older vehicles and support the second-hand market. Last month, Beijing said it was in talks with Chinese EV makers about extending costly subsidies that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows."


WEST COAST EV CHARGING NETWORK EVCS RAISES $68.8M TO EXPAND FAST CHARGER FOOTPRINT

"A West Coast-based EV charging network – has raised $68.8 million in funding to help expand its presence to over thirty-five new cities in California, Oregon, and Washington. In addition to increasing fast charger density in its current footprint, EVCS looks to double its network size by 2023. Because its network currently only caters to western states, EVCS has a relatively small presence compared to some of the nationwide charging providers like EVGo and Electrify America. That being said, the company is planning to double its network size by next year and now has the funding in place to get started. The funds will be used to more than double EVCS’ network of 600 chargers across the West Coast to 1,500 in the next eighteen months, providing more EV drivers to opportunity to utilize the company’s unique unlimited charging subscription model."


MORE AMERICANS WOULD “DEFINITELY” GET ELECTRIC VEHICLES, CONSUMER REPORTS SURVEY SHOWS

"With gas prices taking a toll on people’s wallets, Consumer Reports (CR) has a new survey of what Americans think about battery electric vehicles (EVs) and low carbon fuels. The nationally representative survey of 8,027 American consumers, which was fielded in late January and February, is the largest national survey sample in the history of CR, the nonprofit consumer research, testing, and advocacy organization. The survey finds 71% of Americans express some level of interest in buying or leasing an electric-only vehicle: 14%  would "definitely" buy or lease one if they were to get a vehicle today, 22% would "seriously consider" one, and 35% "might" consider one. The 14% of American drivers who say they would “definitely” buy or lease an electric-only vehicle is up markedly from the 4% who said the same in a 2020. Nearly half of Americans (46%) are unaware of the incentives available to purchase an EV. The survey was fielded January 27 to February 18, when the national average price for gasoline rose from about $3.34 to $3.52 per gallon. Now the average price is about $4.78, according to AAA. "


SAIC TO LAUNCH 16 ELECTRIC CAR MODELS BASED ON NEW NEBULA PLATFORM

"SAIC Motor, China’s biggest automaker, plans to unveil 16 car models based on its recently launched electric vehicle platform Nebula over the next two years. The Shanghai-based carmaker unveiled the MG-branded Mulan, the first built on Nebula, last month. The model will also be released in Europe under the name MG4 Electric. Nebula, which is compatible with power battery capacities of between 44 kilowatt hours and 150 KWh, and electric machines of between 150 KW and 600 KW"


SAIC SELLS 91,297 NEVS IN JUNE, UP 27% FROM MAY

"In June, SAIC's NEV sales accounted for 18.88 percent of total sales. The company aims to increase that share to at least 32 percent by 2025."



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