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3/21/2019, 12:27 PM (Source: TeleTrader)
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VW forms European Battery Union with Northvolt

A consortium of European companies led by Volkswagen AG and Swedish battery manufacturing startup Northvolt is forming the European Battery Union (EBU) to further research on batteries, the automaker said in a press release on Thursday.

"Partners from research and industry in seven EU member states are joining forces in the European Battery Union consortium. The comprehensive research collaboration will range from raw material production, to cell technology and cell production processes and through to recycling. The research activities will also focus on the development and engineering of plant technologies allowing sustainable, climate-friendly and competitive battery cell production in the European Union," VW stated.

The research is set to begin in 2020 and its results will be shared between all partners across national borders.

Breaking the News / MD