Automakers pair up with battery cell producers for the age of electric
Automakers around the world are preparing for the age of electric vehicles by establishing joint ventures with Li-ion battery cell producers. Over 90% of these JVs were established in the last 3 years. This is what Roland Zenn, Sr. Manager Purchasing Battery Cell Materials at Farasis Energy Europe, states in his Linkedin post this July.
He continues to say that since his last post on this topic in January 2020 the following new JVs & investments were announced:
April: Toyota & BYD 50:50 JV
May: Volkswagen takes 26% stake in Guoxuan (aka Gotion)
July: Daimler takes stake in Farasis
July: Honda takes a 1% stake in CATL
Further JVs are under consideration:
• BYD & JLR
• Foxconn & Fiat Chrysler
Forming JVs is one measure of automakers to secure supply, costs and quality of the batteries for electric vehicles, according to Zenn.