{"id":76515,"date":"2023-03-15T02:00:34","date_gmt":"2023-03-15T02:00:34","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/03\/15\/volkswagen-is-localizing-its-ev-supply-chain-in-north-america-other-news-on-renewables-generation-low-carbon-fuels-and-ev-financing-from-china-the-uk-and-the-us\/"},"modified":"2023-03-15T02:00:34","modified_gmt":"2023-03-15T02:00:34","slug":"volkswagen-is-localizing-its-ev-supply-chain-in-north-america-other-news-on-renewables-generation-low-carbon-fuels-and-ev-financing-from-china-the-uk-and-the-us","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/03\/15\/volkswagen-is-localizing-its-ev-supply-chain-in-north-america-other-news-on-renewables-generation-low-carbon-fuels-and-ev-financing-from-china-the-uk-and-the-us\/","title":{"rendered":"Volkswagen is localizing its EV supply chain in North America + Other news on renewables generation, low-carbon fuels, and EV financing from China, the UK, and the US"},"content":{"rendered":"<p><strong>Volkswagen will build its first non-European battery factory in Canada in a bid to<\/strong><strong> localize its EV production chain in North America<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/volkswagen-build-first-north-american-battery-cell-plant-canada-2023-03-13\/\">Reuters<\/a> reports. The move comes several months after the German automaker signed an agreement with the country to access key battery raw materials. The new plant is \u201cthe largest single investment in the auto sector in the history of Canada,\u201d the newswire quotes Canadian federal innovation minister Francois-Philippe Champagne as saying.<\/p>\n<p><strong>Canada is an EV hotspot: <\/strong>The country\u2019s rich mining industry \u2014 which includes rare earths like lithium, nickel, and cobalt \u2014 along with its supportive legislation (think tax credits) are attracting EV business, the newswire reports. More investments could be on the way since Volkswagen announced it will invest EUR 180 bn over the course of five years in battery production, raw material sourcing, and more to attempt to lower EV prices and consolidate its sales in the market, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/volkswagen-invest-180-bln-euros-five-year-plan-2023-03-14\/\">Reuters<\/a> reported separately.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>China <\/strong>is set to nearly <strong>triple <\/strong>its planned <strong>wind and solar <\/strong>energy generation capacity to <strong>3.3 GW by 2030<\/strong>. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-14\/goldman-sees-china-nearly-tripling-its-target-for-wind-and-solar#xj4y7vzkg?leadSource=uverify%20wall\">Bloomberg<\/a>)<\/li>\n<li><strong>UK EV start-up <\/strong><strong><a href=\"https:\/\/arrival.com\/\">Arrival<\/a><\/strong> received a <strong>USD 300 mn <\/strong>equity financing line from <strong><a href=\"http:\/\/www.westwoodcapital.com\/\">Westwood Capital<\/a><\/strong> to start producing electric vans in the US next year. (<a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/british-ev-startup-arrival-gets-300-mln-funding-2023-03-13\/\">Reuters<\/a>)<\/li>\n<li>A <strong>British tidal power facility <\/strong>on Liverpool\u2019s Mersey river could provide <strong>1 GW of <\/strong><strong>clean power <\/strong>to 1 mn households in the UK. (<a href=\"https:\/\/www.cnbc.com\/2023\/03\/13\/in-liverpool-plans-for-tidal-power-mega-project-take-shape-.html\">CNBC<\/a>)<\/li>\n<li>US energy giant <strong>Chevron <\/strong>is partnering with agribusiness companies <strong><a href=\"https:\/\/www.corteva.com\/\">Corteva<\/a><\/strong>and <strong><a href=\"https:\/\/www.bunge.com\/\">Bunge<\/a><\/strong> for the production of <strong>low-carbon biofuels <\/strong>from canola crops. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/corteva-bunge-chevron-partner-produce-renewable-fuels-2023-03-14\/\">Reuters<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Volkswagen will build its first non-European battery factory in Canada in a bid to localize its EV production chain in North America, Reuters reports. The move comes several months after the German automaker signed an agreement with the country to access key battery raw materials. The new plant is \u201cthe largest single investment in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":76516,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,275,273,1514,69,11,172,88,210,1485],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-biofuels","tag-canada","tag-chevron","tag-china","tag-enterpriseclimate","tag-germany","tag-renewables","tag-usa","tag-volkswagen","wpautop","entry"],"acf":{"mongo_id":"6fd504e5-869d-4d1c-9fca-7ea718a4390c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/472.jpg","photo_position":"above","related_issue":[76495],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Volkswagen is localizing its EV supply chain in North America + Other news on renewables generation, low-carbon fuels, and EV financing from China, the UK, and the US - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/15\/volkswagen-is-localizing-its-ev-supply-chain-in-north-america-other-news-on-renewables-generation-low-carbon-fuels-and-ev-financing-from-china-the-uk-and-the-us\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Volkswagen is localizing its EV supply chain in North America + Other news on renewables generation, low-carbon fuels, and EV financing from China, the UK, and the US\" \/>\n<meta property=\"og:description\" content=\"Volkswagen will build its first non-European battery factory in Canada in a bid to localize its EV production chain in North America, Reuters reports. 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