The cornerstone for the first Volkswagen battery factory | News

There is a structural change in the automotive industry towards electromobility and a shift away from the conventional internal combustion engine. Volkswagen is accelerating the pace by building its own battery factory in Germany. The cornerstone was laid.

Tesla is considered a pioneer in electromobility and is now a global industry leader. But traditional car makers are catching up and continue the conversion. Volkswagen wants to be at the forefront – its own battery factory is being built in Germany.

As the car manufacturer from Wolfsburg announced, the cornerstone was laid for the first battery factory. It is being built in Germany at the Salzgitter location: “In the future, we will take all the relevant areas into our own hands and thus provide a strategic competitive advantage in the race for the pinnacle of e-mobility,” said VW Technical Director Thomas Schmall.

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The battery cell factory in Salzgitter is VW’s first factory. However, it should serve as a blueprint for other relevant factories across Europe. By 2030, the group wants to build six cell factories together with its partners. Their capacity should then be 240 gigawatt hours.

VW shares are recovering slightly

VW’s share is in a medium-term downward trend and has lost almost 27% this year. Shares are currently recovering slightly, and the MACD (Momentum) is also turning up. Another hurdle on the way up is € 140, and the downtrend is even clearer above this figure at around € 162.

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