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The company launched PowerCo this past summer. Now PowerCo will be in charge of the global battery business. Volkswagen Group said in athat Canada offers ideal conditions, with local supply of raw materials and wide access to clean electricity. The factory in Canada is one of six that Volkswagen Group plans to build. This is all part of a broader global plan to cut battery costs in half.
The company added that this move is “part of a larger plan that Volkswagen and PowerCo agreed upon with Canadian Prime Minister Justin Trudeau’s government in August last year.”