Volkswagen AG has become the latest automaker to seek additional control over its supply chain for the production of electric cars, signing two pacts in China to shore up cathode materials.
Volkswagen Group China struck MOUs for strategic partnerships with Huayou Cobalt and Tsingshan Group to “further strengthen its position in the Chinese battery value chain and the group’s competitiveness in the fast-growing e-mobility industry in China,” according to a statement Monday.
“The cooperation aims to achieve significant cost advantages, secure the raw material supply and achieve a transparent and sustainable supply chain,” VW said.
About the Author
EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.
Follow on Linkedin
Visit Website
More Content by EcoVadis EN