its acquisition of a 9.9% stake in Canadian lithium company Patriot Battery Metals for $48 million.
The Vancouver-based company also signed a memorandum of understanding with PowerCo to explore joint development opportunities for the Quebec project, previously known as Corvette. “This investment represents a milestone in our journey toward a fully electric future,” said Thomas Schmall, Volkswagen Group board member for Technology,. “By collaborating with Patriot Battery Metals, we are not only securing key raw materials for cutting-edge, sustainable battery technology but also reinforcing our commitment to North America.”
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