Diess: capital for battery cell plants ‘on the market’

Volkswagen sees good conditions for financing the battery cell plants it needs. „The capital for this exists in the market,“ Group CEO Herbert Diess said in an interview with Reuters and the „Süddeutsche Zeitung“ newspaper on the sidelines of the IAA Mobility auto show in Munich. „You’ve seen that with Northvolt.“ The Swedish battery maker, which partners with VW, had been raising funds on a large scale from investors to expand its production capacity in Europe. The returns that come from battery manufacturing are high, Diess said. „It’s a demand market and it will remain a demand market for the foreseeable future.“