VW eyes Canada in seek for first North America cell plant

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© Reuters. FILE PHOTO: Volkswagen emblem is pictured on the 2022 New York Worldwide Auto Present, in Manhattan, New York Metropolis, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Picture

BERLIN (Reuters) – Volkswagen (ETR:) and its battery subsidiary PowerCo SE have begun trying to find a website for the carmaker’s first battery cell manufacturing facility in North America, an organization supply advised Reuters on Thursday.

The supply stated Canada was “a logical choice” for the plant, which might be VW’s first gigafactory outdoors Europe.

The transfer was described as an growth of the memorandum of understanding signed between Volkswagen and mineral-rich Canada in August, during which they agreed to accentuate efforts to safe entry to lithium, nickel and cobalt.

Europe’s carmakers have pushed to safe stakes in battery manufacturing on the continent, however the business there’s nonetheless in its infancy.

In September, Volkswagen introduced a $2.9 billion battery elements three way partnership with Belgian supplies agency Umicore

On the hunt for a location in North America, Volkswagen board member for expertise Thomas Schmall stated: “PowerCo is about to leap throughout the Atlantic. The framework circumstances in North America are extremely engaging. Probably the most aggressive location wins the race.”

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