Varta invests in battery cell production to rival Asians
German battery maker Varta has sealed an agreement with scientific research body Fraunhofer Institute to lay the foundations for mass production of lithium ion battery cells to be used in electric cars. Today, most battery cells are made by CATL, Samsung, LG Chem and other Asian companies - a situation that puts German OEMs in a weak and possibly dangerous position.
That is why the German government is putting aside 1 billion euros to support domestic companies looking to produce battery cells for EVs. With the research project, Varta wants to gain technical advantages in battery cell production over Asian manufacturers and is in intensive discussions with relevant market players to broaden its product line, Varta CEO Herbert Schein told reporters in Stuttgart.
Source: Automotive News.