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Regulators approve Umicore, PowerCo materials joint venture


March 23, 2023: Umicore and VW batteries subsidiary PowerCo mentioned on March 23 they acquired full regulatory approval to launch a cathode supplies and precursors three way partnership headquartered in Brussels.

From 2025, the yet-to-be-named three way partnership will provide PowerCo’s battery cell factories in Europe with key supplies for manufacturing.

The search continues for a manufacturing web site to supply, by the tip of the last decade, lively cathode supplies and lively cathode precursor supplies for a focused cell capability of 160GWh per 12 months, which the along with the equal of an annual manufacturing capability able to powering 2.2 million absolutely electrical automobiles.

The announcement comes after PowerCo mentioned on March 17 that it had given the go-ahead to construct a second battery cell manufacturing facility within the Spanish area of Valencia.

The manufacturing facility will begin producing built-in cells for VW electrical automobiles in 2026 and can have an preliminary annual manufacturing capability of 40GWh.

Since its launch in July 2022, PowerCo has selected three websites for cell factories – Salzgitter in Germany; Valencia, Spain; and St. Thomas in Ontario, Canada.

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