Volkswagen Chief Says Electric Car Prices Aren't the Villain Hindering EV Sales Explosion and Blames Surge in Raw Material and Energy Costs for Delay in Electrification in Europe

Volkswagen Chief Says Electric Car Prices Aren’t the Villain Hindering EV Sales Explosion and Blames Surge in Raw Material and Energy Costs for Delay in Electrification in Europe

Written by Flavia Marinho

Published on 23/12/2022 at 15:57

Updated on 23/12/2022 at 16:00

Fabrica Volkswagen – GettyImages

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Volkswagen Aims to Build Battery Cell Factories in Europe That Should Generate Over € 20 Billion in Annual Sales and Create up to 20,000 Jobs.

The boss of the German car giant Volkswagen, Thomas Schäfer, said that the automaker may stop investing in battery factories across the bloc if the EU fails to tame energy prices and reinforce its industrial policy.

“Europe is not competitive in cost terms in many areas, especially when it comes to electricity and gas costs”, Thomas said in a post on social media criticizing Europe’s industrial policy.

“If we cannot quickly reduce energy prices in Germany and Europe, then investments in energy-intensive production, or for new battery cell factories, in Germany and throughout the EU, will no longer be viable”, he stated.

ARTICLE CONTINUES BELOW

In 2022, for the First Time Since 2010, the Price of Batteries for Electric Cars Increased Compared to the Previous Year!

Affordability of electric vehicles continues to be a key issue, as raw material and battery costs remain high, and consumers experience high electricity prices and inflation.

In 2022, for the first time since 2010, the price of batteries for electric cars increased compared to the previous year. In this scenario, not only Volkswagen, but most automakers are seeking new technologies, new chemical compositions, and also diversifying their supply chains.

The Volkswagen is looking for alternative battery chemicals that may offer less efficiency but lower cost in the face of rising nickel and cobalt prices. Alternatives could hit the market as soon as 2026, Schäfer said.

China Is Still the Major Global Supplier, While Europe and the United States Try Not to Depend on the Asian Market

The China is still the major global supplier, while Europe and the United States are making billion-dollar investments to balance this supply and depend less on Asian countries, something that should take effect in the coming years.

“The fact is that, in an international comparison, Germany and the EU are quickly losing their attractiveness and competitiveness”, Schäfer said. “The U.S., Canada, China, Southeast Asia, and regions like North Africa are stepping on the gas.”

“The EU urgently needs new instruments to prevent shallow deindustrialization and keep Europe attractive as a location for future technologies and jobs”, argued the Volkswagen executive.

Volkswagen Chief Says Electric Car Prices Aren’t the Villain Hindering EV Sales Explosion and Blames Surge in Raw Material and Energy Costs for Delay in Electrification in Europe

Volkswagen Aims to Build Battery Cell Factories in Europe That Should Generate Over € 20 Billion in Annual Sales and Create up to 20,000 Jobs.

In 2022, for the First Time Since 2010, the Price of Batteries for Electric Cars Increased Compared to the Previous Year!

China Is Still the Major Global Supplier, While Europe and the United States Try Not to Depend on the Asian Market

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Volkswagen Chief Says Electric Car Prices Aren’t the Villain Hindering EV Sales Explosion and Blames Surge in Raw Material and Energy Costs for Delay in Electrification in Europe

Volkswagen Aims to Build Battery Cell Factories in Europe That Should Generate Over € 20 Billion in Annual Sales and Create up to 20,000 Jobs.

In 2022, for the First Time Since 2010, the Price of Batteries for Electric Cars Increased Compared to the Previous Year!

China Is Still the Major Global Supplier, While Europe and the United States Try Not to Depend on the Asian Market

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

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The world has been generating 80% of electricity by boiling water for 200 years, but China has just turned on a machine that replaces steam with supercritical CO2 and promises to jump from 33% to 50% efficiency.

At a depth of 914 meters, a team accidentally discovers a pirate ship with cannons, a telescope, and objects from three continents on the seabed, uncovering a mystery that has haunted Europe for centuries.

Brazilian producers are leaving Roraima to plant in Guyana, where the government offers land on concession and does not charge taxes, while in Brazil the harvest faces high interest rates and a bureaucracy that hinders even the use of the rivers.