Volkswagen battery subsidiary Powerco and Belgium's Umicore are to extend their cooperation on cathode material to Canada, which the carmaker is considering as the location of its first North American cell factory, VW said on Thursday.
BERLIN— Volkswagen's battery subsidiary Powerco and Belgium's Umicore are to extend their cooperation on cathode material to Canada, which the carmaker is considering as the location of its first North American cell factory, VW said on Thursday.
The German auto giant signed a memorandum of understanding with materials firm Umicore for a long-term strategic partnership geared towards future cell production in the region, a statement said. Meanwhile, Umicore on July 13 committed to spending about C$1.5 billion to build an integrated manufacturing plant for cathode and precursor battery materials outside Kingston, Ont.
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