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BERLIN — Volkswagen Group and its battery subsidiary PowerCo have begun searching for a site for the automaker’s first battery cell factory in North America, a company source told Reuters.
The source said Canada was “a logical option” for the plant, which would be VW’s first gigafactory outside Europe.
The move was described as an expansion of the memorandum of understanding signed between VW and mineral-rich Canada in August, in which they agreed to intensify efforts to secure access to lithium, nickel and cobalt.
Europe’s automakers have pushed to secure stakes in battery production on the continent, but the industry there is still in its infancy.
In September, VW announced a $2.9 billion battery parts joint venture with Belgian materials firm Umicore.
On the hunt for a location in North America, VW board member for technology Thomas Schmall said: “PowerCo is about to jump across the Atlantic.
The framework conditions in North America are highly attractive. The most competitive location wins the race.”