Volkswagen’s PowerCo forms new Partnership to Manufacture Battery Materials in North America

PowerCo, the new battery company of Volkswagen, announced that it will be forming a joint venture with Umicore to manufacture battery materials for around 2.2 million electric vehicles. This new joint venture is a significant milestone in establishing one of the first fully integrated automobile supply chains as Volkswagen plans to ramp up electric vehicle […]

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Inflation Reduction Act Boosts EV Batter Sourcing and Production in North America

Joe Biden, president of the United States of America, signed the Inflation Reduction Act, which is an expansive legislation that encourages electric vehicle manufacturers to expand sourcing and production in North America. The landmark climate and healthcare law contains around 7,500 dollars in tax credits for consumers who purchase electric vehicles, even though the financial […]

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