Volkswagen has announced plans to sell a minority stake in its battery joint venture, Gotion, as part of a broader strategy to expand production of lithium iron phosphate (LFP) batteries. The move comes amid growing industry focus on LFP technology, which is seen as a cost-effective alternative to traditional battery chemistries. Partners involved in the venture are reportedly preparing to launch three new LFP-related projects, signaling increased competition in the electric vehicle battery market. The decision reflects Volkswagen’s shifting priorities in battery supply amid evolving market demands.
Volkswagen to Sell 5.3% of Gotion as Partners Plan Three LFP Ventures eletric-vehicles.com
