Volkswagen is reportedly negotiating with a Robert Bosch and Samsung joint venture to start developing batteries for electric vehicles.
Various German media reports indicate that the initiative is believed to be a collaboration with LG Chem and that Volkswagen’s head of brand development Ulrich Hackenberg is currently analyzing the evolution of various battery systems.
"Mass-produced battery cells won't be deliverable until about one or two years from now," Hackenberg was quoted as saying.
In addition to that, Volkswagen is currently collaborating with multiple battery producers, with the list including Chinese automaker BYD, the Japanese Sanyo Electric developer and Toshiba.
Volkswagen recently announced that it plans to further develop its business in China by investing an additional $2.1 billion.
The funds will bring the German company’s investment in China to a total value of $7.9 billion (the first part of the investment was announced last year). The money will be used to increase the automaker’s Chinese production capacity as well as support the development of new VW vehicles. The company plans to introduce seven new or updated models to the Chinese market this year and it wants to build two new production sites.
The initiative comes as a response to the sales increase registered by the German brand on the world’s largest auto market. Volkswagen saw its Chinese deliveries surge by 60.9 percent to 457,259 vehicles in the first three months of the present year. The company wants to maintain this momentum and create a solid foundation for its future operations in the country.
Various German media reports indicate that the initiative is believed to be a collaboration with LG Chem and that Volkswagen’s head of brand development Ulrich Hackenberg is currently analyzing the evolution of various battery systems.
"Mass-produced battery cells won't be deliverable until about one or two years from now," Hackenberg was quoted as saying.
In addition to that, Volkswagen is currently collaborating with multiple battery producers, with the list including Chinese automaker BYD, the Japanese Sanyo Electric developer and Toshiba.
Volkswagen recently announced that it plans to further develop its business in China by investing an additional $2.1 billion.
The funds will bring the German company’s investment in China to a total value of $7.9 billion (the first part of the investment was announced last year). The money will be used to increase the automaker’s Chinese production capacity as well as support the development of new VW vehicles. The company plans to introduce seven new or updated models to the Chinese market this year and it wants to build two new production sites.
The initiative comes as a response to the sales increase registered by the German brand on the world’s largest auto market. Volkswagen saw its Chinese deliveries surge by 60.9 percent to 457,259 vehicles in the first three months of the present year. The company wants to maintain this momentum and create a solid foundation for its future operations in the country.