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According to overseas media reports, Volkswagen Group announced at its recent shareholder meeting that it has signed an order for power lithium batteries worth $48 billion, which is about twice the amount of the $25 billion procurement contract advertised a few weeks ago.

Faced with the challenge of electrification, Volkswagen Group launched an ambitious RoadmapE electrification strategy in September 2017: by the end of 2022, Volkswagen Group will have 16 electric vehicle production bases worldwide. At present, Volkswagen has three important electric vehicle production bases, and nine new factories will be put into operation in the next two years. Volkswagen Group plans to produce 3 million electric vehicles annually and launch 80 new electric vehicle models by 2025. This year, in addition to the existing lineup of 8 pure electric and plug-in hybrid vehicles, the group will also launch 9 new models, including 3 pure electric vehicle models, including the first pure electric SUV of JAC Volkswagen.

In order to ensure sufficient battery production to meet the increase in environmentally friendly electric vehicle production, the Volkswagen Group has established partnerships with multiple battery manufacturers. Just six weeks ago, Volkswagen Group revealed that the company had signed orders for electric vehicle batteries and components worth $25 billion, with battery purchases scattered among three companies - Samsung SDI, LG Chemical, and CATL.

However, the latest information shows that the purchase contract amount for Volkswagen's lithium-ion batteries has reached $48 billion, which is roughly equivalent to the current market value of TSLA and twice the amount planned by Volkswagen Group a few weeks ago, indicating Volkswagen's awareness and importance of automotive electrification. Volkswagen's total procurement goal is to reach $50 billion, covering the battery demand for new energy vehicle production by 2025.

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