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VW expects batteries, raw materials needed for EV shift to cost up to $34B

VW battery pack production Braunschweig
Production of battery systems are pictured at at VW's factory in Brunswick, Germany. The automaker intends to make its own battery cells. (VW)
R
By:
Reuters
December 01, 2021 10:42 AM

FRANKFURT -- Volkswagen Group's new battery cell plants and securing vital raw materials will cost as much as 30 billion euros ($34 billion), board member Thomas Schmall said, putting a price tag on the expansion for the first time.

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