The Volkswagen Group is bundling its global battery activities in the European company (SE) PowerCo. From Salzgitter, the company will, with immediate effect, manage international factory operations, the further development of cell technology, the vertical integration of the value chain and the supply of machinery and equipment to the factories. Looking ahead, further products such as major storage systems for the energy grid are planned. Since its launch in July 2022, PowerCo has already decided three gigafactory locations: Salzgitter in Germany, Valencia in Spain and St. Thomas in Canada. The company plans to set up cell factories with a total capacity of 240 GWh/year in 2030.