Volkswagen AG and the Government of Canada aim to promote e-mobility in the country and to explore opportunities across Canada’s automotive and battery supply chain. This was agreed in a “Memorandum of Understanding” (MoU) signed today in Toronto by Volkswagen CEO Herbert Diess and Canada’s Minister of Innovation, Science, and Industry, François-Philippe Champagne, in the presence of German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau. Both parties will investigate opportunities for Canada to contribute to Volkswagen’s global and regional battery supply chains. PowerCo, the newly founded battery company of the Group, has a central role in these efforts and will drive forward the planned cooperation in the fields of battery value creation, raw materials supply chains and cathode material production in the North American region.
PowerCo SE is responsible for all global Group activities along the battery value chain, securing battery cell supply for Volkswagen’s e-mobility push. The rapidly growing global battery cell business is a key pillar of Volkswagen’s NEW AUTO strategy, which aims to make Volkswagen the leading provider of sustainable and software-driven mobility. The plan is to quickly build up highly standardized cell production capacities totaling 240 gigawatt hours per year in Europe alone. In addition, there are plans to establish a dedicated gigafactory in North America. Possible production sites are currently being examined.
Olaf Scholz, Chancellor of the Federal Republic of Germany: “I welcome that Volkswagen and Canada have signed a Memorandum of Understanding on battery value creation today. This is excellent proof that the cooperation with our close friends and allies in Canada is further deepening also in the context of raw material security and may encourage other companies to follow.”
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, said: “Canada is quickly becoming the green supplier of choice for major auto companies, including leading European manufacturers, as we transition to a cleaner, greener future. By partnering with Volkswagen, Canada is strengthening its leadership role as a world class automotive innovation ecosystem for clean transportation solutions. Canada is committed to building a strong and reliable automotive and battery supply chain here in North America to help the world meet global climate goals.”
Dr. Herbert Diess, CEO of Volkswagen Group: “Volkswagen has been vigorously pushing the transformation to e-mobility, recognizing the industry‘s responsibility in the global battle against climate change. The Group today not only offers the broadest range of electric models…
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