VW, Northvolt Form European Battery Consortium

Volkswagen AG and Swedish battery startup Northvolt AB have agree to form a consortium to accelerate battery research in Europe.

The European Battery Union will conduct research on everything from raw materials and cell technology to battery recycling. EBU says its primary objective is to amass broad expertise in battery cell production.

The initiative will involve collaboration with unspecified research and industry partners in seven member state of the European Union.

VW says the group will be partly funded by Germany’s Ministry for Economic Affairs and Energy, which has allotted €1 billion ($1.1 billion) in funding for a consortium and research facility to make battery cells and develop advanced solid-state batteries. The new consortium expects to commence research work in early 2020.