1. Electromobiles
  2. Volkswagen will build multi-billion-euro battery factory

Volkswagen will build multi-billion-euro battery factory

German automaker VW decided to build 10 billion-euro Gigafactory as part of a major expansion of its electric-car portfolio.

7/28/16 5:00 am chumakdenis 1

VW does its best to live down heinous accident from the past– wounds regarding diesel-emission scandal in the United States are still fresh –and takes an incredibly serious step: construction of multi-billion-euro battery factory.

By doing so, the company intends to kill two birds with one stone: completely clean up its reputation and start competing with such giants as Tesla Motors and Nissan Motor on equal terms – as of now, the company is doing well only in China with its luxurious sedan.

Well, we completely have no idea whether VW will start being more successful , but one thing we know for sure – decision that was taken deserves accolades for sure – how many companies do you know that would be risky enough to invest 10 billion euros (around  11 billion US dollars) into something new?

And all of that stuff is going on while the company remains on the brink of extinction.

Definitely, the company has guts.

Kudos for that.

Anyway, we are getting a little bit off-topic.

Let’s return to our muttons and learn everything about VW’s Gigafactory.

VW battery factory

The factory will be built as a part of a major expansion of the company’s electric-car portfolio.

The all-new Gigafactory will be located in Salzgitter, Germany and will allow VW to operate independently of Asian firms like Panasonic, LG and Samsung that have dominated the battery market.

If calculations are correct, each company’s vehicle will be 66% cheaper, meaning gigantic price drop – I bet that after following step beleaguered company will make a fresh start and improve its negative image – it is even possible that VW will become the next media darling.

Nonetheless, it’s too early to talk about all that stuff.

Let’s pass this back on executive board and look and see what will be next.

6267.jpgVW Chief Executive Matthias Müller and his team are currently working on a new strategy to increase electric car sales in the coming 10 years to 1 million.

Other investments

VW invested heck of a lot of money in solid-state battery startup  QuantumScape in late 2014 and have publicly stated that they expect the technology that can deliver 440 miles( around 700 km) of range.

“We want to launch a major initiative, one that will put us at the top of the industry,” said one insider familiar with the plans.

Hell yeah!

That’s what we call we-can-do-it spirit.

After being mucked, the company doesn’t stop being high-flyer.

Let’s wish VW good luck and wait more news from them.

6269.jpg

 

  vw german automaker german company 10 billion-euro vw's gigafactory gigafactory vw gigafactory volkswagen battery factory volkswagen

You must be logged in to comment!

Connected posts
Volkswagen is working under all-electric rallycross supercar
Volkswagen has finally unveiled 100% electric version of Camper
Samsung invested 1 billion dollars in all-new battery Gigafactory
Volkswagen is not dead
Tesla Gigafactory will be the biggest building in the world
Volkswagen AG unveiled to the public self-parking self-charging electric vehicle
2015 Volkswagen Golf GTE Sport concept
Volkswagen AG promised to reduce battery costs by 66%
Volkswagen C Coupe GTE hybrid
Legendary Volkswagen Camper goes electric and returns on the automotive market
BYD is to build Tesla-like gigafactory
BMW in collaboration with Volkswagen will build public DC fast charging networks in the US
Volkswagen AG bought a stake in solid-state battery startup company for Tesla Challenge
Volkswagen XL1 283-mpg hyper-hybrid
Electric Volkswagen Beetle
News RSS
New comments

Breana Great post! dead battery

TyroneWilliams Did anybody see the news about that Canadia who fell asleep behind the wheel of a Tesla going at 90mph? It was crazy and dangerous, not some ...

francheslove19 I really appreciated to you on this quality work. Nice post!! these tips may help me for future. Kindly check my site here at Owassofencing ...

francheslove19 Great information. I will check out the rest of this. Here check this Owassoconcreteservices.com

francheslove19 I learned new information from your article, you are doing a great job. Continue to my site here Owassoroofingservices.com

francheslove19 Great information. I will check out the rest of your article. Check Bacomputerservices.com

ogilview82 I can't believe myself that this time will come that Solar Impulse 2 - a fuel-free plane will have its first flight. Looking for top tree ca ...

Ariadne Prince George Towing had a very cool looking electric car similar looking as this one, but their car runs on a bio-electric fuel, which mea ...

jackmorton College degree abroad

ManuelR Oh my! This is cool. Where did you buy these cars from? https://www.svggm.com/