Volkswagen seeks partnerships for EV battery materials

Volkswagen, Europe’s largest carmaker, is in talks with suppliers to secure direct access to raw materials for electric vehicle (EV) batteries via partnerships, one of its board members said.

Europe’s biggest carmaker is trying to extend its control over the industry’s supply chain, which gives those with direct access to chips and lithium a decisive advantage to navigate bottlenecks and run plants at full capacity.

The plan is also aimed at catching up with rivals, including Tesla and BMW, which have already struck supply deals with producers of lithium, the most important ingredient in EV batteries.