PowerCo and Umicore receive the green light to start their JV for EU battery materials production

23 March 2023, 06:45:50

PowerCo and Umicore receive the green light to start their JV for EU battery materials productionPowerCo, the new battery company of the Volkswagen Group, and Belgian circular technology group Umicore have obtained full regulatory approvals for their joint venture announced in September 2022. The partners can now swiftly proceed to prepare for large-scale industrial production of cathode active materials (CAM) and precursor materials (PCAM) in Europe.

Cathode-active materials are the key technological lever for battery performance, as well as the single biggest contributor to overall battery cost. They are thus strategically important input materials central to battery value creation, and crucial for a successful powertrain transition towards e-mobility.

From 2025 onwards, the joint venture set up by PowerCo and Umicore will supply PowerCo's European battery cell factories with key materials for production. Headquartered in Brussels, the joint venture will cover a large part of PowerCo’s EU demand and provide Umicore with secured access to an important part of the European demand for EV cathode materials.

The joint venture is on track to produce, by the end of the decade, CAM and PCAM for a targeted 160 GWh cell capacity per year, which is equivalent to an annual production capacity capable of powering about 2.2 million fully electric vehicles. The partners will therefore be important contributors to the green mobility transition and the further development of a local, sustainable, and fully integrated European battery supply chain.

The production site search is ongoing. The location of the site and the name of the joint venture will be disclosed in due course.

Related news

News related to PowerCo, Umicore or Volkswagen

Volkswagen ID.7 Tourer is the first all-electric VW estate in Europe

The Volkswagen ID.7 is the flagship among electric VW models – a progressive fastback saloon with a long range. The brand is now expanding the ID.7 portfolio in Europe with an estate car: the all-new Volkswagen ID.7 Tourer. It is one of the first all-electric estate cars in the upper mid-sized class and delivers up to 685 km of range, a high-quality cockpit landscape, outstanding travel comfort, and superior...

19 February 2024

Volkswagen starts developing a China-tailored platform for BEVs

Volkswagen's strongest market is China and the group goes the extra mile to maintain it this way in the foreseeable future. To boost its "In China For China" strategy, the Group announced the expansion of its Hefei site which will be turned into a state-of-the-art production, development, and innovation hub run by the Volkswagen China Technology Company (VCTC). Its main goal is to reduce the time to market for...

28 November 2023

Volkswagen Group delivers 45% more all-electric vehicles in the first 9 months

The Volkswagen Group all-electric deliveries increased by 45% to 531,500 vehicles globally, raising the BEV share of total deliveries to 7.9% after 6.1% in the prior year period. In the third quarter alone, the BEV share climbed to 9.0% compared to 6.8 percent one year ago. From January to September, Europe remained the key growth driver with an increase of 61% to 341,100 vehicles. BEV deliveries jumped 74% to...

17 October 2023

Volkswagen updates the ID.4 and ID.5

Volkswagen is launching pre-sales for the enhanced ID.4 and ID.5 models. The two electric models will now be offered with a brand new generation of infotainment system and software. In addition, all Pro and GTX versions will feature a new drive system. The high-efficiency drive introduced for the first time for the large ID.7 offers significantly more power together with reduced energy consumption. The combined WLTP...

10 October 2023

Volkswagen ID.X Performance concept car debuts in Locarno

Volkswagen ID.X Performance embodies the brand's vision of an all-electric sports limousine in the upper mid-sized class. This concept car was presented at the ID. Treffen in Locarno. The exterior of the all-electric limousine has a host of sporty features – both the front splitter and rear diffuser are made of carbon. The engineers have increased the toe by 80 mm and lowered the sports suspension with especially...

8 September 2023

2024 Volkswagen ID.4 arrives with more performance, power, and technology

Volkswagen of America revealed today that the 2024 Volkswagen ID.4 electric compact SUV is getting a major upgrade for its 82 kWh battery models, including a new performance drive unit that delivers greater performance and expected improvement to EPA-estimated range, an improved infotainment display, and a new premium audio system, among other features. Continuing to be assembled in Chattanooga, Tennessee, the 2024...

5 September 2023

Volkswagen ID. GTI Concept based on the ID. 2all is showcased at IAA Mobility 2023

By 2027, Volkswagen - Europe's largest automotive manufacturer - will launch eleven new all-electric models and thus offer the most comprehensive electric vehicle range of all manufacturers - from a compact car priced at less than 25,000 euros to a family saloon. The ID. GTI Concept show car presented for the first time at the IAA Mobility 2023 in Munich provides a concrete insight into how Volkswagen will transport...

4 September 2023

Volkswagen ID.7 Pro can now be pre-ordered in Germany, prices start at EUR 56,995

Volkswagen ID.7 debuted in April at the Auto Shanghai in China. As of today, customers in Germany can pre-order the vehicle which starts at EUR 56,995 incl. VAT. This price applies to the Volkswagen ID.7 Pro version with a combined range of 543-621 km, 210W power, a 77 kWh battery, 11KW onboard charger, and 175 KW DC fast charging support. Its combined power consumption is 16.3 - 14.1 kWh/100 km. Check out the...

25 August 2023

XPeng July 2023 deliveries

In July 2023, XPENG recorded monthly deliveries of 11,008 Smart EVs, a 28% increase over the prior month, marking its sixth consecutive month of delivery growth. The XPENG G6 Ultra Smart Coupe SUV commenced mass deliveries across 110 cities nationwide in July after its market launch in late June. In July, total G6 deliveries reached more than 3,900 units. The strong sales momentum of G6 has led to a surge in...

2 August 2023

Volkswagen and Audi enter strategic cooperations with XPeng and SAIC in China

The Volkswagen Group is strengthening its position on the Chinese automotive market with cooperations between the VW brand and XPENG and between Audi and SAIC. The Group is thus forging ahead with its local electrification strategy. The aim is to swiftly tap into new customer and market segments, thereby systematically leveraging the potential of China’s dynamically growing e-mobility market. The VW brand has...

2 August 2023

Volkswagen Group increases all-electric deliveries by around 50% in H1 of 2023

Volkswagen Group increased its deliveries of all-electric vehicles (BEVs) by 48% year-on-year to 321,600 vehicles in the first half of the year. The BEV share of total deliveries rose to 7.4%, up from 5.6% in the first six months of the previous year. The Group achieved the highest growth in Europe, where deliveries rose by 68% to 217,100 BEVs. Here, the Volkswagen Group is the market leader and gained market share...

21 July 2023

Volkswagen's PowerCo develops a gamechanger battery cell production technology

PowerCo SE is planning to introduce a completely new manufacturing process in its battery cell production plants in Europe and Northern America. The new technology will significantly boost efficiency and sustainability in volume battery cell production. A subsidiary of Volkswagen Group and based in Salzgitter, Niedersachsen, the battery company aims to industrialize the so-called Dry Coating procedure. The...

18 June 2023

Three-row Volkswagen ID. Buzz debuts in the U.S.

Volkswagen unveiled the three-row ID. Buzz in Huntington Beach, California today. The zero-tailpipe vehicle has been designed specifically for North America. It offers a longer wheelbase than the two-row European vehicle that debuted in 2022, plus a bigger battery and more horsepower. Retro design cues—like the oversized VW logo, short overhangs, and available two-tone color palette—meet a tailored interior...

2 June 2023

Volkswagen Group delivers 42% more BEVs in the first quarter

The Volkswagen Group successfully continued its transition to electric mobility in the first quarter of 2023. By the end of March, deliveries of all-electric vehicles (BEVs) have risen by 42% compared to the prior-year period, which was hit harder by supply chain issues. A total of 141,000 BEVs were handed over to customers, up from 99,200 in the first quarter of 2022. BEVs made up 6.9% of total deliveries in this...

21 April 2023

EV Specifications

Complete specifications of EVs, grouped according to their brand and year

AudiBMWBytonCadillacChevroletDaciae.GOFIATFiskerFordGenesisGMCHondaHyundaiJaguarKIALexusLucidMazdaMercedes-BenzMGMININIONissanOpelPeugeotPolestarPorscheRenaultRivianSEATŠKODAsmartSubaruTeslaToyotaVolkswagenVolvoXiaomi

Featured

Specifications of some of the most interesting and anticipated EVs.

2024 Porsche Macan

2024 Porsche Macan 4

Doors: 4, Seats: 5
Length: 188.3 in / 4784 mm
Width: 76.3 in / 1938 mm
Height: 63.9 in / 1622 mm
Curb weight: 5302.12 lb / 2405 kg
Location: Rear
Location: Front
Battery: 100 kWh, Voltage: 800 V

2024 Porsche Macan

2024 Porsche Macan Turbo

Doors: 4, Seats: 5
Length: 188.3 in / 4784 mm
Width: 76.3 in / 1938 mm
Height: 63.8 in / 1621 mm
Curb weight: 5302.12 lb / 2405 kg
Location: Rear
Location: Front
Battery: 100 kWh, Voltage: 800 V

2024 Xiaomi SU7

2024 Xiaomi SU7 RWD

Doors: 4, Seats: 5
Length: 196.7 in / 4997 mm
Width: 77.3 in / 1963 mm
Height: 57.3 in / 1455 mm
Curb weight: 4365.15 lb / 1980 kg
Electric motor: 220 kW, 400 Nm, Location: Rear
Battery: 73.6 kWh

2024 Xiaomi SU7

2024 Xiaomi SU7 AWD

Doors: 4, Seats: 5
Length: 196.7 in / 4997 mm
Width: 77.3 in / 1963 mm
Height: 56.7 in / 1440 mm
Curb weight: 4861.19 lb / 2205 kg
Electric motor #1: 275 kW, 500 Nm, Location: Rear
Electric motor #2: 220 kW, 400 Nm, Location: Front
Battery: 101 kWh, Voltage: 871 V

2024 Volkswagen ID.7

2024 Volkswagen ID.7 Pro

Doors: 4, Seats: 5
Length: 195.3 in / 4961 mm
Height: 60.5 in / 1536 mm
Curb weight: 4788.44 lb / 2172 kg
Electric motor: 210 kW, 550 Nm, Location: Rear
Battery: 77 kWh

2025 Cadillac Escalade IQ

2025 Cadillac Escalade IQ Luxury 2

Doors: 5, Seats: 7
Length: 224.3 in / 5697 mm
Height: 76.1 in / 1934 mm
Electric motor: 505 kW, 1064 Nm, Location: Rear
Location: Front
Battery: 200 kWh, Voltage: 800 V

2025 Cadillac Escalade IQ

2025 Cadillac Escalade IQ Sport 2

Doors: 5, Seats: 7
Length: 224.3 in / 5697 mm
Height: 76.1 in / 1934 mm
Electric motor: 505 kW, 1064 Nm, Location: Rear
Location: Front
Battery: 200 kWh, Voltage: 800 V

2025 Cadillac Escalade IQ

2025 Cadillac Escalade IQ Luxury 1

Doors: 5, Seats: 7
Length: 224.3 in / 5697 mm
Height: 76.1 in / 1934 mm
Electric motor: 505 kW, 1064 Nm, Location: Rear
Location: Front
Battery: 200 kWh, Voltage: 800 V

2025 Cadillac Escalade IQ

2025 Cadillac Escalade IQ Sport 1

Doors: 5, Seats: 7
Length: 224.3 in / 5697 mm
Height: 76.1 in / 1934 mm
Electric motor: 505 kW, 1064 Nm, Location: Rear
Location: Front
Battery: 200 kWh, Voltage: 800 V

2025 Volvo EX30

2025 Volvo EX30 Twin Motor Performance (EK)

Doors: 5, Seats: 5
Length: 166.7 in / 4233 mm
Width: 76.4 in / 1940 mm
Height: 61.0 in / 1549 mm
Curb weight: 4034.46 lb / 1830 kg
Location: Rear
Location: Front
Battery: 69 kWh

2023 BMW i7

2023 BMW i7 xDrive60

Doors: 4, Seats: 5
Length: 212.2 in / 5391 mm
Width: 76.8 in / 1950 mm
Height: 60.8 in / 1544 mm
Curb weight: 5820.2 lb / 2640 kg
Electric motor #1: 190 kW, 365 Nm, Location: Rear
Electric motor #2: 230 kW, 380 Nm, Location: Front
Battery: 105.7 kWh, Voltage: 376.4 V

2024 BMW iX

2024 BMW iX M60

Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5862.09 lb / 2659 kg
Location: Rear
Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2024 BMW iX

2024 BMW iX xDrive50

Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5698.95 lb / 2585 kg
Location: Rear
Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2024 BMW i4

2024 BMW i4 xDrive40

Doors: 4, Seats: 5
Length: 188.3 in / 4783 mm
Width: 72.9 in / 1852 mm
Height: 57.0 in / 1448 mm
Curb weight: 5048.59 lb / 2290 kg
Location: Rear
Location: Front
Battery: 83.9 kWh, Voltage: 398.5 V

2023 BMW i4

2023 BMW i4 M50

Doors: 4, Seats: 5
Length: 188.3 in / 4783 mm
Width: 72.9 in / 1852 mm
Height: 57.0 in / 1448 mm
Curb weight: 5048.59 lb / 2290 kg
Electric motor #1: 230 kW @ 8000 - 17000 rpm, 365 Nm, Location: Rear
Electric motor #2: 190 kW @ 8000 - 17000 rpm, 430 Nm, Location: Front
Battery: 83.9 kWh, Voltage: 398.5 V

2023 BMW iX

2023 BMW iX M60

Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5862.09 lb / 2659 kg
Location: Rear
Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2023 BMW iX

2023 BMW iX xDrive50

Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5698.95 lb / 2585 kg
Location: Rear
Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2024 Volvo EX90

2024 Volvo EX90 Twin Performance (E2)

Doors: 5, Seats: 7
Length: 198.3 in / 5037 mm
Width: 77.3 in / 1964 mm
Height: 68.7 in / 1744 mm
Curb weight: 6197.19 lb / 2811 kg
Electric motor #1: 190 kW, 490 Nm, Location: Rear
Electric motor #2: 180 kW, 420 Nm, Location: Front
Battery: 111 kWh, Voltage: 400 V