VW seals 10-year lithium deal for electric cars

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Volkswagen said it had secured 10 years' worth of lithium for electric car batteries from Chinese manufacturer Ganfeng.

File: With harsh EU emissions limits set to bite from next year and toughen further by 2030, Volkswagen plans some 70 new electric models by 2028.

The two firms"signed a memorandum of understanding on long-term lithium supplies for battery cells," VW said in a statement, although it did not reveal the financial terms of the deal. With harsh EU emissions limits set to bite from next year and toughen further by 2030, the sprawling 12-brand company plans some 70 new electric models by 2028.

 

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