Ionway, the auto battery parts joint venture between Volkswagen’s PowerCo and Belgian materials firm Umicore has chosen Poland as the site for its first factory, Reuters reported. Through the $2.9 billion enterprise, the companies are bringing battery supplies closer to home in the shift toward electric vehicles. How did the law of attraction work this time?
Ionway’s target is to build up its annual production capacity by the end of the decade to around 160 gigawatt hours (GWh) per year – enough for 2.2 million electric vehicles. The Polish government is providing 350 million euros ($371 million) in cash grants for the investment in the southwestern town of Nysa that would create around 900 jobs.
PowerCo reportedly had decided on Poland because the location was strategically favorable, plus there were sufficient skilled labor and renewable energy sources for production.