Moneymoney

Tue Mar 13, 2018, 12:15 PM

VW Just Gave Tesla a $25 Billion Battery Shock

•German automaker to equip 16 plants for electric autos by 2022
•Manufacturer working to cut amount of cobalt needed for models
•Michal Meidan Says Electric Vehicles Are Here to Stay

March 13, 2018, 5:30 AM EDT Updated on March 13, 2018, 11:08 AM EDT

Volkswagen AG secured 20 billion euros ($25 billion) in battery supplies to underpin an aggressive push into electric cars in the coming years, ramping up pressure on Tesla Inc. as it struggles with production issues for the mainstream Model 3.

The world’s largest carmaker will equip 16 factories to produce electric vehicles by the end of 2022, compared with three currently, Volkswagen said Tuesday in Berlin. The German manufacturer’s plans to build as many as 3 million of the cars a year by 2025 is backstopped by deals with suppliers including Samsung SDI Co., LG Chem Ltd. and Contemporary Amperex Technology Ltd. for batteries in Europe and China.

With the powerpack deliveries secured for its two biggest markets, a deal for North America will follow shortly, Volkswagen said. In total, the Wolfsburg-based automaker has said it plans to purchase about 50 billion euros in batteries as part of its electric-car push, which includes three new models in 2018 with dozens more following.

Volkswagen’s battery plans compare to Tesla’s $17.5 billion worth of purchase obligations as of last year, including $15.4 billion in deals through 2022, primarily related to buying lithium-ion cells from Panasonic, according to a recent filing. Volkswagen called its battery tender one of the biggest purchasing initiatives in the auto industry.

more...

https://www.bloomberg.com/news/articles/2018-03-13/vw-secures-25-billion-battery-supplies-in-electric-car-surge

We better start fortifying our electric grid to handle this influx of electric vehicles. As it is now, it couldn't handle a huge influx of cars on their chargers basically at the same time...after work.

5 replies, 152 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply VW Just Gave Tesla a $25 Billion Battery Shock (Original post)
RCW2014 Mar 2018 OP
rahtruelies Mar 2018 #1
RCW2014 Mar 2018 #2
rahtruelies Mar 2018 #3
FreeWheelBurning Mar 2018 #5
uncledad Mar 2018 #4

Response to RCW2014 (Original post)

Tue Mar 13, 2018, 12:30 PM

1. VW will be bankrupt in five years

electrics are an expensive joke utterly dependent on State subsidy

Reply to this post

Back to top Alert abuse Link here Permalink


Response to rahtruelies (Reply #1)

Tue Mar 13, 2018, 12:42 PM

2. The gasoline engine in new vehicles will be the exception, not the rule by 2025... eom

Reply to this post

Back to top Alert abuse Link here Permalink


Response to RCW2014 (Reply #2)

Wed Mar 14, 2018, 10:21 AM

3. Not a chance.............................

Reply to this post

Back to top Alert abuse Link here Permalink


Response to RCW2014 (Reply #2)

Thu Mar 15, 2018, 02:15 PM

5. Too short a time frame

Your prediction will probably come to pass but it will not happen in the next 7 years. The infrastructure needed to support that many electric vehicles will take decades to implement. This will be a slow crawl not a 7 year dash.

Perhaps small nation with only a couple of million citizens could make it happen in 7 years but not the US.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to RCW2014 (Original post)

Wed Mar 14, 2018, 11:34 AM

4. Hybrids and electrics will force changes in the grid.

It will force changes in international commerce. Asia and Europe will lead the way. Prices will go down on vehicles as they become more available. New technology replaces old. Same as it ever was.

Reply to this post

Back to top Alert abuse Link here Permalink

Moneymoney