Volkswagen pushes battery partners to build Gigafactories1

SHANGHAI (Reuters)-
Volkswagen is promoting innovation including SK (SKI)
Herbert Diess, chief executive of the company, told Reuters to build an electric vehicle battery plant with at least 1 GW of manufacturing capacity.
\"Anything below this number makes no sense,\" Diess said on the sidelines of the Shanghai auto show on Sunday . \".
Volkswagen will buy 50 billion euros ($56. 57 billion)
The value of electric vehicle batteries and the identification of SKI, LG Chem and Samsung SDI in Korea as strategic battery suppliers, as well as China Contemporary Amperex Technology Co. , Ltd (CATL).
German automakers are transforming 16 factories to make electric vehicles and are planning to start producing 33 different electric vehicles under Skoda, Audi, Volkswagen and Seat brands by mid-2023.
\"We are considering investing in a battery manufacturer to strengthen our electrified offensive and build up the necessary knowledge --
Said Volkswagen.
SKI is building a battery manufacturing plant in the United States to supply Volkswagen\'s plant in Chattanooga, Tennessee.
Lithium will be available for skiing
Volkswagen plans to start producing ion batteries for electric vehicles in Chattanooga in 2022.
LG Chem, Samsung and SKI on will also provide batteries to the masses in Europe.
CATL is a strategic partner of the automaker in China and will provide batteries to its electric fleet from 2019.