“The world’s biggest carmaker announced Friday that it had struck a deal with Sweden’s Northvolt to build a giant battery factory in Germany. It also confirmed production dates for two new models key to the group’s success.
The German company said production of lithium-ion batteries would begin in late 2023 or early 2024, a move that will be vital to Volkswagen’s (VLKAF) ability to mount what it calls “the largest electric offensive in the automotive industry worldwide.
“The group plans to launch almost 70 new electric models in the next decade,and hopes to build 22 million electric cars over this period. It is investing more than €30 billion ($33 billion) into electrifying its fleet over the next four years, prompted in part by pressure from regulators and the fallout from its diesel emissions scandal…”