Volkswagen is consistently continuing its e-mobility strategy: to kick off its battery offensive, the Group broke the ground for its first cell factory in Salzgitter. Production will start in 2025. With immediate effect, responsibility for global battery business is to be held by the newly created company PowerCo. In addition to cell production, the new company will be responsible for activities along the entire battery value chain. Up to 2030, PowerCo is to invest more than EUR 20 billion together with partners in the development of the business area, to generate annual sales in excess of EUR 20 billion and to employ up to 20,000 people in Europe alone.The Volkswagen Group is bundling its global battery activities in the European company PowerCo. From Salzgitter, the company will, with immediate effect, manage international factory operations, the further development of cell technology, the vertical integration of the value chain and the supply of machinery and equipment to the factories. Looking ahead, further products such as major storage systems for the energy grid are planned. Following Salzgitter, the next cell factory is to be established at Valencia. Sites are currently being identified for three further cell factories in Europe. In addition to Europe, PowerCo is also already exploring the possibility of further gigafactories in North America.