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The German automaker announced Monday that it plans to build six “gigafactories” in Europe by 2030 with a total production capacity of 240 gigawatt hours per year. That’s enough to power nearly 4 million Volkswagen ID.3 electric vehicles, according to a spokesperson. The first two battery factories will operate in Skellefteå, Sweden, and Salzgitter, Germany.
Volkswagen is also adding a slew of new electric vehicle charging points to networks across Europe, the United States and China, the company said at an event on Monday.
Volkswagen’s electric vehicle strategy is based on reducing the cost of battery systems with a new unified battery cell, which will be launched in 2023 and installed in up to 80% of the group’s electric vehicles. The company also plans to recycle up to 95% of the raw materials involved in the production of batteries.
“The unique design of almost all cells will drastically reduce battery costs … up to 50% compared to today,” CEO Herbert Diess said at Monday’s event. “Lower prices for batteries mean more affordable cars, which makes electric vehicles more attractive to customers.”
Battery costs, which are a large part of the total cost of an electric car, will gradually be reduced by up to 50% in entry-level models and up to 30% in standard models, Volkswagen said in a statement.
The company also needs a secure supply of battery cells to speed up production of electric vehicles. Volkswagen (VLKAF) started to gain ground on You’re here (TSLA) in its bid to become the world’s largest producer of battery-electric vehicles. The company sold 231,600 battery-electric vehicles in 2020 – less than half the number of sales made by Tesla, but an increase of 214% from the previous year.
“Electric mobility has become our core business,” said Diess. The company’s new strategy would ensure “a long-term pole position in the race for the best battery and the best customer experience in the age of zero-emission mobility,” he added.
The company’s battery offensive is accompanied by a huge expansion of the fast-charging network.
In partnership with BP (BP), From Spain Iberdrola (IBDRY) and Italian energy company Enel (EDCFF), Volkswagen intends to operate around 18,000 public charging stations in Europe by 2025, up from around 3,600 today. The automaker estimates that its network will cover about a third of the total expected demand on the continent at this time.
Volkswagen is also expanding its charging points in the United States and China. Electrify America, a subsidiary, plans to have approximately 3,500 fast-charging points in North America by the end of the year. In China, Volkswagen is aiming for a total of 17,000 fast-charging points by 2025.
Tesla, by comparison, currently has 20,000 fast-charging points around the world.
From 2022, Volkswagen’s electric vehicles will also support technology that allows them to connect to private, commercial and public energy systems. “Electric vehicles will become mobile energy banks,” said Diess.
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