Joe Miller Correspondent at Financial Times 15h • Edited • 15 hours ago Following
Just four years ago, VW's boss said battery cell manufacturing was "not one of our core competencies” and better left to others.
Now the company wants to play catch-up, and build six large battery plants in Europe, starting in Salzgitter, Germany.
The problem, not just for VW, but for fellow latecomers Ford and GM too, is that China has basically bought up all the supply, as the chart below starkly shows. The West has been caught napping.
German Chancellor Olaf Scholz admitted as much last month. “Not so long ago, many in Germany believed that battery cells?.?.?.?could always be ordered from Asia,” he said. “Now we know better... a reliance on global supply chains in certain strategic areas is a big risk.”
News 
Market Data 
Discover 
