Volkswagen, partners to invest $20 bln in car battery business

Volkswagen, partners to invest $20 bln in car battery business

Thursday, July 7, 2022

SALZGITTER, Germany, July 7 (Reuters) - Volkswagen (VOWG_p.DE)and its partners will invest over 20 billion euros ($20.38 billion) in a battery cell business, creating 20,000 jobs and targetting annual sales above 20 billion euros by 2030 as it seeks to beat U.S. rival Tesla which leads in the growing market.

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