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,” Volkswagen said in a statement,
although it did not reveal the financial terms of the deal.
“Volkswagen is thus already securing a significant share of its lithium requirement,” the group added.
With harsh EU emissions limits set to bite from 2020 and
toughen further by 2030, the sprawling 12-brand company plans about 70
new electric models by 2028.
As it emerges from the shadow of its painful “dieselgate” emissions
cheating scandal, Volkswagen aims to sell about 22-million electric cars over
the coming decade to escape fines from Brussels.
But the new electric offensive is pushing the limits of battery production.
World demand for lithium is constantly growing as car companies join
makers of smartphones and other electronic gadgets in clamouring for
supply of the element.
Each smartphone battery contains 3g of lithium, a laptop about 30g and an electric car battery more than 20kg.
- AFP
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