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VW Group secures lithium supply
The Volkswagen Group and Ganfeng Lithium Co., Ltd. based in Jiangxi (China) have signed a declaration of intent for the long-term supply of lithium for battery cells.
VW Group secures lithium supply
Accordingly, Ganfeng will supply the VW Group and its suppliers with lithium for the next ten years. This means that Volkswagen is already securing a significant portion of its increasing lithium demand for batteries. Stefan Sommer, Group Board Member for Components and Procurement at Volkswagen Aktiengesellschaft, says: "In the next ten years, the Volkswagen Group will bring more than 70 new purely electric vehicles onto the road. By 2025, around a quarter of the fleet we deliver will already be electric. Accordingly, our raw material requirements for cell production will increase rapidly in the coming years. This need must be secured at an early stage. Long-term agreements, such as those we have now made with Ganfeng for the most important raw material lithium, are therefore a crucial strategic one importance for the implementation of our e-offensive.”