大众汽车电池POWERCO-创建全球电池冠军-2025-04-企业研究

BuildingaGlobal

BatteryChampion

March2025

Disclaimer

Thefollowingpresentationsaswellasremarks/commentsandexplanationsinthiscontextcontainforward-lookingstatementsonthebusinessdevelopmentoftheVolkswagenGroup.

Thesestatementsarebasedonassumptionsrelatingtothedevelopmentoftheeconomic,politicalandlegal

environmentinindividualcountries,economicregionsandmarkets,andinparticularfortheautomotiveindustry,whichwehavemadeonthebasisoftheinformationavailabletousandwhichweconsidertoberealisticatthetimeofgoingtopress.Theestimatesgivenentailadegreeofrisk,andactualdevelopmentsmaydifferfromthoseforecast.

Allfiguresarerounded,sominordiscrepanciesmayarisefromadditionoftheseamounts.Anychangesinsignificantparametersrelatingtoourkeysalesmarkets,oranysignificantshiftsinexchangerates,energyandothercommoditiesorthesupplywithpartsrelevanttotheVolkswagenGroupwillhaveacorrespondingeffectonthedevelopmentofourbusiness.

Inaddition,theremayalsobedeparturesfromourexpectedbusinessdevelopmentiftheassessmentsofthefactors

influencingsustainablevalueenhancementandofrisksandopportunitiespresenteddevelopinawayotherthanwearecurrentlyexpecting,orifadditionalrisksandopportunitiesorotherfactorsemergethataffectthedevelopmentofour

business.Wedonotupdateforward-lookingstatementsretrospectively.Suchstatementsarevalidonthedateofpublicationandcanbesuperseded.

Thisinformationdoesnotconstituteanoffertoexchangeorselloranoffertoexchangeorbuyanysecurities.

PowerCo:

Howwewin.

De-riskedentryintodouble-digitgrowthmarket

FavorabledemanddynamicsinEU&NA|Upto~4.5TWhglobalmarketin2030|Aleadingplayerfromdayone

1

2

UnifiedCellDesignisourtechnologybedrock

UFCformatacrossleadingchemistries|Competitivecellperformance&cost|Stronginnovationpipeline

3

Globalfactoryscale-upbackedbyintegratedsupplychain

Launchin2025|StandardizedgigafactoriesinEUandNA|Verticalintegration

Carbon-neutralproduction|Responsibleminingandmaterials|Focusedonclosed-loop

4

Sustainabilityatourcore

5

PowerCoandVWGroup-partnerswithcomplementingstrengthsSignificantdemand|Alignedinterestinsuccessfulscale-up|Industrializationtrack-record

Ourvision:

Becomeaglobalbatterychampion.

Setting

standards

Competitivecell

performance&cost

Leaderin

sustainability

Execution

inourDNA

1staddressfor

globaltalent

1|Market:

Short-termslowdown.Robustlong-termgrowth.

Short-termslowdown…

202320242023202420232024

+17%

-1%

+8%

Global

BEVsales2020-2030

2324

~30%p.a.

20202122

25262728292030

…butlong-termfundamentalsintact

Newlauncheswith

fasttechprogression

Buildupofcharginginfrastructure

~5x

EVchargingpoints

2023vs.2030

Regulationstopromote

netzeromobility

1|Market:

De-riskedentryintodouble-digitgrowthmarket.

VWGroupdemand…

[GWh]

Globalbatterydemand…

[TWh1]

Mobility

EnergyStorageSystems

~3-4.5

~2-3x

~1-2

2024A2030E

…outgrowingsupply

especiallyinEUandNA2

~50%

ofworldwideVWGroupdemandcaptured

2025262728292030

...de-risks

PowerCobaseline

Source:BloombergNEF,WoodMackenzie;McKinseyBatteryInsights.1)Li-ionandNa-ionbatterydemandformobilityandESS.2)Takescapacitydiscountsintoaccountduetoexpectedramp-updelays/feasibility.

2|Product:

Unifiedcell.Lowcomplexity,highstandardization.

NMC

SSB

Si-anode

Na-ion

LFP

NMC-blends

Adaptabletoallleadingchemistries,tailoredtoautomotivesegments

Standardized

prismaticcellformat

Economiesofscale

unlocking

costadvantages

Passengercars

Trucks

Energystoragesystems

Busses

Uniquecustomerfocus-Adaptabletoallmarket

segments

2|Product:

UFCisourbedrock.Readyforwhatisnext.

BestinClass

Performanceoptimum|High-endchemistry|Si-Anode-ASSB

Volume

Costandperformance|Mainstreamchemistry|LFPandNMC

Entry

Costoptimum|Low-costchemistry|LFP-Na-ion

World-class

R&Dpartnerships

Strong

innovationpipeline

Higheststandardization

inthemarket

2|Product:

…executioninfullswing.

cellsalready

producedandtested

>100k

Excellentfastcharge

Highestenergydensity

Highefficiency

Superiorsafety

2|Product:

EnergyStorageSystems(ESS)diversifyingPowerCo.

Entryintocomplementarygrowthmarket

ProprietaryCell,PackandEnergyStorageSolutions

CubetechnologieswithfocusonEU&NA

3|Standardfactory:

Globalfactoryscale-up.Standard,butflexible.

Salzgitterprogress

Firstcells

produced

Start

Equipment

installationH2/25

Purchase

PowerCoorderof

foundationbuilding

Startof

construction

07/22

FirstcellsproducedinH2/25

-30%CapexperGWh, -50%launchtime andprocessinnovations1

3factories

ensuredbyPowerCo&VW

Groupindustrializationexpertise

inGermany,SpainandCanada

1)E.g.,DryCoating.

3|Standardfactory:

Processvalidation.End-to-end.

1

Calendaring

4

Canclosure

2

Stacking

5

Plasmacleaning

3

Assembly

6

Wrapping

3|Standardfactory:

…executioninfullswing.

SalzgitterValenciaSt.Thomas

3|VerticalIntegration:

Strategyinplace.Progressmade.

Strategy

Settingstandardsinsustainable

sourcing

Smartcapital

allocationviaLTAs1/directinvestments

Industrializationof

supplychainforpriceandvolumesecurity

1)Long-termagreement.

NMCsupplychain

EuropeansupplychainforNMCproductioninplace

JVforcathodematerial

production,closedMarch

2023

Selectedexample

LFPsupplychain

EstablishmentofLFP

supplychaininprogress

4|Sustainability:

Atourcore.Forgenerationstocome.

Cell

production

Mining

andrefining

Use

phase

Recycling>

Battery

components

Sustainabilitystrategy

acrosssupplychain

Carbon-neutralproductioninClosedloop

standardfactoriesapproach

5|VWGroup:

Apartnershipwithcomplementarybenefits.

Uniqueindustrializationtrackrecord

DirectaccesstoVWGroupplatformcustomers

D