Canada will take 20 years to recoup Stellantis, Volkswagen subsidies
Mining News Pro - The Canadian government will take 20 years to recoup the combined C$28.2 billion ($21 billion) subsidies it is offering Volkswagen and Stellantis-LG Electric Solutions to build two electric vehicle (EV) battery plants, the country’s budgetary watchdog said on Tuesday.
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Volkswagen subsidy to cost Canada $1.8bn more than forecast
Mining News Pro - Canada’s budgetary watchdog estimated on Wednesday that a deal offering Volkswagen production tax credits to build a battery gigafactory in the country will cost taxpayers about C$2.4 billion ($1.8 billion) more than announced.
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Volkswagen searches for battery cell plant sites in Canada
Canadian Industry Minister François-Philippe Champagne signed the document — described as an addendum to a memorandum of understanding inked with VW in August this year — during his visit to Germany.
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Volkswagen and Mercedes line up tariff-friendly battery supplies in deals with Canada
Mining News Pro - Volkswagen AG and Mercedes-Benz Group AG have sealed agreements with Canada to secure access to raw materials such as nickel, cobalt and lithium for battery production, according to people familiar with the accords.
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Volkswagen breaks ground on $20 billion battery unit’s first cell plant
Mining News Pro - Volkswagen AG broke ground on a new battery plant in Germany on Thursday, saying the factory marks the first step in an effort that will generate more than 20 billion euros ($20.4 billion) in annual revenue by the end of the decade.
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Volkswagen looking at making its own batteries in North America
Mining News Pro - Volkswagen AG is considering setting up an in-house battery cell manufacturing operation in North America, similar to what it’s doing in Germany.
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Rubio questions Volkswagen’s ties to metal suppliers in China over human rights
Mining News Pro - US Senator Marco Rubio is seeking information from Volkswagen AG about a pair of planned joint ventures with companies accused of having a record of alleged human rights violations such as forced labor and human trafficking.
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Volkswagen reaps unexpected $3.8 billion windfall on nickel price spike
Mining News Pro - Volkswagen AG’s commodity trading profits are outshining carmaking earnings after the company’s nickel hedging position surged in value following last month’s historic short squeeze.
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Volkswagen plans IPO of Porsche to ignite EV shift momentum
Mining News Pro - Volkswagen AG is preparing an initial public offering of Porsche, seeking a listing of its most profitable asset to help boost the parent’s valuation and fund the push into electric vehicles.
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Volkswagen CEO says Tesla factory will threaten German jobs
Mining News Pro - Volkswagen chief executive Herbert Diess told workers on Thursday to brace for a deeper company overhaul when US electric vehicle (EV) maker Tesla starts ramping up production at its first European factory outside Berlin next year.
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Tesla vs Volkswagen 2021 battery power comparison
Mining News Pro - Shorting Tesla has been a widowmaker trade and fans of the company and its CEO have amped up the stock by more than 160% over the past year to become the first trillion-dollar automaker ever, joining the most rarefied of rarefied clubs.
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Volkswagen seeks partners for battery metals race
Mining News Pro - Volkswagen is in talks with suppliers to secure direct access to raw materials for electric vehicle (EV) batteries via partnerships, one of its board members told Reuters on Tuesday.
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Volkswagen powers up for the EV revolution
Mining News Pro - Volkswagen CEO Herbert Diess is no Elon Musk but the German carmaker is following a path already traveled by Tesla as it gears up for the mass rollout of electric vehicles (EV).
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Volkswagen joins cobalt group supporting artisanal DRC miners
Mining News Pro - Volkswagen has joined the “Cobalt for Development” initiative to support improving artisanal cobalt mining conditions in the Democratic Republic of Congo.
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Volkswagen and Daimler push for more ‘sustainable’ Chile lithium
Mining News Pro - German automakers Volkswagen and Daimler have launched a study to push for more “sustainable” lithium mining in Chile, according to lobbyist filings reviewed by Reuters, a sign of growing supply chain concerns ahead of an expected electric vehicle boom.
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