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VW’s PowerCo and Belgian Umicore join forces
PowerCo and Umicore establish joint venture for European battery materials production. From left to right: Thomas Schmall, PowerCO CEO, Jörg Teichmann, PowerCo Chief Procurement Officer, Ralph Kiessling, EVP Energy & Surface Technologies at Umicore, and Umicore CEO Mathias Miedreich) /VW and Umicore
The Volkswagen Group’s new battery subsidiary PowerCo and the Belgian materials technology group Umicore have established a joint venture for cathode and pre-material production in Europe. From 2025, the joint venture will supply PowerCo’s European battery cell factories with key materials. By the decade’s end, the new partners want to produce cathode and battery production
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