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Charged EVs | Volkswagen Group acquires 25% stake in 24M, will use its SemiSolid battery platform

Volkswagen Group and Cambridge, Massachusetts-based battery developer 24M Applied sciences have fashioned a strategic partnership underneath which VW will manufacture EV batteries utilizing 24M’s SemiSolid platform. VW has acquired a 25% stake in 24M, and can set up a wholly-owned subsidiary that may collaborate with 24M to develop SemiSolid battery cell manufacturing expertise for automotive purposes.

“The SemiSolid manufacturing platform gives the potential to considerably cut back capital and working prices,” stated Dr. Steffen Blase, Head of Group Mergers and Acquisitions at Volkswagen. “By our newly established subsidiary and our strategic partnership with 24M, we’re targeted on bringing the SemiSolid platform to automotive purposes, and imagine we will develop cost-effective processes to fulfill the growing demand for EVs.”

“Our collaborative partnership with VW will assist considerably broaden the worldwide attain of SemiSolid batteries, and assist quick observe electrical automobile adoption,” says 24M CEO Naoki Ota.

Supply: 24M Applied sciences



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