Stefan Mileschin

With supply chains still in disarray and the war in Ukraine wreaking havoc on EV battery component commodity prices, many forward-thinking automakers are scrambling to secure not only stocks of the valuable metals like cobalt, lithium and nickel that go into EV batteries, but also the means of of building the batteries themselves. On Thursday, Volkswagen Group held a groundbreaking at the site of its forthcoming EV battery cell plant in Salzgitter Germany and announced the formation of a new company, PowerCo, which will be responsible for handling the VW Group's burgeoning battery business.

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