'We are not setting up a joint venture', VW and Bosch cancel plans for battery cells
Bosch announced Thursday along with German carmaker, Volkswagen that the two companies have cancelled their plans to create a joint venture to equip battery cell factories.
The joint venture, announced at the beginning of 2022, was designed to deliver battery production systems, as well as assisting battery cell manufacturers in scaling up and maintaining their production sites.
"We are not setting up a joint venture," Bosch Chief Executive Officer Stefan Hartung said, adding that the partnership with the German carmaker to digitise its battery factories would continue.
"Volkswagen and PowerCo are sticking to their plan to get involved in equipping battery cell factories in the future. We are in talks with potential partners. We will inform you about the exact constellation in due course,” a Volkswagen spokesperson said.
By Michael Elkins | [email protected]