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12/8/2021, 9:51 AM (Source: TeleTrader)
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Umicore-3.39%

32.190
Chart for: Umicore SA

VW-0.55%

172.95
Chart for: VOLKSWAGEN AG ST O.N.

Volkswagen, Umicore to jointly produce EV battery materials

Volkswagen AG and Umicore N.V. announced on Wednesday that the two companies have joined forces to establish a joint venture that will produce materials needed to develop batteries used in electric vehicles starting from 2025.

"We are very pleased to partner with Volkswagen in this unique joint venture and will bring in our long-standing and proven expertise in battery materials, as well as our strong commitment and solutions to today's sustainability challenges," Umicore CEO Mathias Miedreich noted.

Baha Breaking News (BBN) / ND