Porsche Revolutionizing EV Batteries
Porsche Setting Up JV With Germany Battery Maker
Faster, Less Expensive Batteries for More Affordable Electric Vehicles
Porsche, which is VW's luxury sports car division, announced today that it is setting up a JV with German battery company Customcells, that specializes in lithium ion cells, to produce high performance, game changing batteries for electric vehicles. The batteries will have higher energy density than the prototypes being used in Porsche's current lineup of electric cars. The new battery will cut charging times and decrease the amount of raw materials needed to attain the same driving range. That will reduce battery production costs and make electric cars less expensive and more affordable for greater numbers of drivers.
E-Dynamics
European car makers are rolling out more electric vehicles to meet stricter emissions standards in Europe and globally. Simultaneously they want to reduce their dependence on lithium ion batteries from Asia. Porsche is investing what it calls a "high, double-digit million euro amount" and will have an 80% stake in the new JV. Meanwhile, parent company Volkswagen plans to build 6, new battery plants across Europe. It will also globally expand infrastructure for charging stations.
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