The Volkswagen group is the owner of several marquees besides just Volkswagen; Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, äkoda and Ducati motorcycles, in addition to approximately 340 subsidiary companies. In short: the company is a behemoth.
So perhaps unsurprisingly, when they made an announcement of a future battery factory of just under 16 billion dollars worth late may of this year, it made headlines. And now almost a month later, they’ve made headlines again, this time speculating on chinese partnerships.
Volkswagen, who is still to this day promoting hydrogen cars, has already partnered with the South Korean battery producer LG Chem and have reportedly been in preliminary talks with chinese officials, who promise china will pay half of the building cost if stationed within it’s country.
Matthias M¸ller, CEO of Volkswagen recently estimated the company will produce 3 million Electric vehicles annually within 2026.