Bosch said Thursday that Volkswagen (VOWG_p.DE) and Bosch (ROBG.UL) had canceled their battery cell factory joint venture.
Bosch CEO Stefan Hartung stated, “We are not setting up a joint venture,” adding that the German carmaker’s battery factory digitization relationship will continue.
Bosch’s head of digital, Tanja Rueckert, advised that it is “better to work together on a project level than in such a construction” since digitalization requires speed.
The joint venture, launched in early 2022, provided battery manufacturing technologies and helped battery cell manufacturers scale up and manage their production locations.
Volkswagen and Powerco will equip battery cell plants in the future. We’re discussing partners. Volkswagen remarked, “We’ll let you know the constellation soon.”