Porsche AG, Customcells partners for manufacturing high-performance EV batteries
Volkswagen's luxury sports car division Porsche AG has announced that it is setting up a joint venture with Customcells to produce high-performance batteries that will considerably ease charging times.
The partnership with Customcells, a company in southern Germany specializing in lithium-ion cells, will aim to produce car batteries with higher energy density than prototypes used in Porsche's existing electric cars, the company said in a declaration.
European carmakers are pushing to ease their dependence on Asia for batteries as they roll out all-electric models to meet stricter emissions targets in the European Union.
In addition to easing charging time, improving energy density will mean reducing the amount of raw material needed in batteries to accomplish the same range. It will also cut battery production costs, making electric cars more affordable.
Porsche said it will capitalize a high double-digit million-euro amount in the joint venture in which it will hold 80 percent.
The production facility targets to have a capacity of 100 kWh, which will transform into about enough batteries for 1,000 cars a year.
Porsche Chief Executive Oliver Blume said in April the company wanted to speed up its e-mobility drive with plans for a German factory in Tuebingen to manufacture battery cells. At that time, he did not say if Porsche would seek a joint venture partner.
Porsche's parent company Volkswagen has said it plans to build half a dozen battery cell plants across Europe and expand infrastructure for charging electric vehicles globally.