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Volkswagen and China’s Gotion announced three industrial partnerships to develop lithium iron phosphate battery production in Spain, Slovakia, and Morocco, with the aim of supporting low-cost electric vehicles. The agreements include substantial investments and production capacities, but come as Volkswagen restructures its business amid cost pressures and competition.
Orders for Volkswagen’s new electric cars in Germany have surpassed orders for internal-combustion vehicles, prompting the company to cancel additional shifts at its Wolfsburg plant and increase production capacity at electric-vehicle plants. This comes as the ID. Polo records more than 40,000 orders in Europe and a waiting list of at least ten months, according to source reports.