Volkswagen wants to accelerate the energy and drive turning with EIT Innoenergy

Volkswagen wants to accelerate the energy and drive turning with EIT Innoenergy-turning

Eit Innoenergy, one of the world’s leading innovation drivers for the energy transition, and Volkswagen AG goes a strategic partnership, as the automotive group communicates. Companies are therefore planning common innovation and investment activities in order to help technologies and business models for economic breakthrough contribute to the declaration of the transport sector and accelerate the use of electromobility. In the course of the partnership, Volkswagen becomes new shareholder of EIT Innoenergy.

“To decarbonize the transport sector, we need a variety of innovations. In addition to our own activities, we will also be increasingly focusing on working with start-ups. Partnership with Eit Innoenergy will help us to find the most promising companies from all areas of the energy transition, which we can then support the scaling of their business model.”- Jens Wiese, Head of Group M&A, Investment Advisory and Partnerships of Volkswagen AG

“The transport sector is in the midst of one of its largest breakdowns at all. Automotive companies are prior to choosing whether they want to be drivers or drivers of this transformation, “complements Diego Pavia, CEO of Eit Innoenergy. How hardly another company did Volkswagen “seized the chance of putting themselves to the top of the change and shaping them. With our approximately 300 portfolio companies from all areas of the energy transition, we see enormous potential to accelerate the decario of the transport sector together with Volkswagen.”

Volkswagen and Eit Innoenergy already look back on a more than five years and according to VW fruitful cooperation. As central actors within the European battery alliance (EBA), they are significantly involved in the development of an internationally competitive European battery industry, whose market volumes are achieved according to current forecasts from 2025 to 250 billion euros per year and create around 4 million direct and indirect jobs.

In addition, the two companies connect their commitment as investors in the Swedish manufacturer Green Steels H2 Green Steel and the battery company Northvolt also from Sweden also. Volkswagen announced in his “Power Day” in March of this year to build six giga factories with a total output of 240 giga nights in Europe by 2030 in Europe with partners.

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