Its CEO, Christian Levin, wants to focus on the premium quality of his company, so they needed to adapt to the current trend related to the transition to electric drive. That's why they created efficient super batteries, which will be produced at the Northvolt gigafactory in northern Sweden.
Panasonic, one of the leading suppliers to Tesla, would like to build a new car battery factory in Oklahoma. It would be the Japanese company's third expansion in the US. It would create up to 4,000 new jobs and cost around 4 billion dollars. Although Panasonic hasn't exactly experienced a constant growth period over the past 5 years, its stock has risen 21.17 percent in the past six months and is still trending higher.*
Panasonic's stock performance over the past five years (Source: Google)
Volkswagen plans to build a battery manufacturing ecosystem in Indonesia in partnership with Vale, Ford and Zhejiang Huayou Cobalt, a mineral resources company. It would have the resources needed for the entire battery manufacturing process, lowering overall costs while cutting Tesla's lead. Other companies in the project include Eramet, BASF, Merdeka Gold Copper and energy company Kalla Group. Indonesia is thus looking to develop the industry and take advantage of the opportunities offered by global brands, as it has the largest nickel reserves in the world. Volkswagen has so far been satisfied with the country's approach, the quality of materials and the receptiveness of its suppliers. [1]
* Past performance is no guarantee of future results.
[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or on the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.
