A shift toward sustainable European e-mobility emerges as PowerCo, bolstered by the Volkswagen Group, and Umicore reveal their trailblazing collaboration. This transformative partnership christened IONWAY, originates from Brussels and signifies the dawn of expansive industrial CAM and pCAM production across Europe.
Projected to reach an astounding 160 GWh of annual production by 2030, IONWAY sets its sights on powering up to 2.2 million electric vehicles. This joint venture primarily intends to fortify PowerCo’s European battery factories, solidifying Umicore’s critical position within the burgeoning European EV cathode material sphere.
This collaboration embodies the potent synergy between a renowned European car manufacturer and a global CAM production colossus. Their aligned objective is to accelerate sustainable e-mobility and pivot to a zero-emission trajectory. Integral to this mission is the crafting of transparent, green, and regional battery supply chains across the European Union.
Cathode-active materials remain at the forefront of battery efficiency, determining both economic and environmental impact. Their central role underscores the importance of transitioning to eco-friendly e-mobility seamlessly and sustainably.
With IONWAY’s inception, a convergence of shared expertise and resources guarantees that the e-mobility shift is both tangible and sustainable. Both PowerCo and Umicore fuse their strengths, igniting a new era dominated by unparalleled battery technology.
PowerCo’s CEO, Frank Blome, articulated his vision: “Through IONWAY, PowerCo reaches another milestone of our strategy to vertically integrate the battery supply chain. Together with our trusted partner Umicore, we source our key cell production materials at reasonable prices. Secure access allows PowerCo to supply cost-competitive battery cells to Volkswagen Group for years to come ‒ enabling its brands to offer attractive, affordable EVs to its customers.”
Echoing Blome’s sentiments, Umicore CEO Mathias Miedreich expressed, “IONWAY is a start-up with a significant head start because our partnership is built on solid foundations with Volkswagen’s PowerCo and Umicore, key players in the electric mobility transformation. IONWAY will no doubt grow into an industry reference in e-mobility, boosting innovation, creating hundreds of highly skilled jobs, and will make the energy transition happen.”
Thomas Jansseune, the freshly minted CEO of IONWAY, conveyed his aspirations: “The foundation of IONWAY sends a strong signal for the roll-out of battery cell technology in Europe. We believe this company will provide some important building blocks in helping the European Union to achieve its Green Deal ambitions.” Jansseune, with his vast experience garnered from Umicore, promises to bring insightful leadership to the venture.
Guiding IONWAY’s fiscal endeavors is CFO Achim Holzer, a seasoned veteran from Volkswagen Group Technology and AUDI. With an academic background steeped in economics, Holzer’s acumen will be an indomitable asset to the venture.
With the rise of IONWAY, European e-mobility stands poised for unparalleled transformation. PowerCo and Umicore’s partnership underscores not just a strong alliance but also an unwavering dedication to a brighter, greener future.
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