VW seals 10-year lithium deal for electric cars

phys.org | 2/12/2019 | Staff
amyc9948 (Posted by) Level 3
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German car behemoth Volkswagen said Friday it had secured 10 years' worth of lithium for electric car batteries from Chinese manufacturer Ganfeng, ensuring supply of a key ingredient for the vital components.

The two firms "signed a memorandum of understanding (MoU) on long-term lithium supplies for battery cells," VW said in a statement, although it did not reveal the financial terms of the deal.

Volkswagen - Share - Lithium - Requirement - Group

"Volkswagen is thus already securing a significant share of its lithium requirement," the Wolfsburg-based group added.

With harsh EU emissions limits set to bite from next year and toughen further by 2030, the sprawling...
(Excerpt) Read more at: phys.org
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