VW tightens ties with battery suppliers

As supplies of electric car batteries begin to tighten in the automotive industry, VW offers loan guarantees and other incentives to secure access to nearly $50 billion in new batteries by 2028.

Volkswagen is taking new steps to keep its battery suppliers close, as investors are still skeptical as to whether consumers will buy electric cars in large numbers and hesitant to make the necessary significant investments.  VW is, therefore, partnering with battery suppliers to finance the construction and expansion of battery plants.