VW’s PowerCo and Belgian Umicore join forces in Ionway (Update)

Tony Verhelle

October 10, 2023

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. The JV is called Ionway. From 2025, it will supply PowerCo's European battery cell factories with key materials
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