VW, Bosch plan joint venture to equip gigafactories - report - Reuters

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A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song/File Photo

Jan 18 (Reuters) - Volkswagen (VOWG_p.DE) and autos supplier Bosch are planning to form a joint venture to build the machinery to equip Volkswagen's battery cell factories, German monthly Manager magazine reported on Monday, citing anonymous sources.

The details of the partnership were not yet determined but Volkswagen board member Thomas Schmall and Bosch's production and technology chief Rolf Najork signed a memorandum of understanding on the matter on Monday, the magazine reported.

The joint venture would deliver to Europe and possibly further afield, kicking into gear in the second half of the year, the article said.

Volkswagen and Bosch were not immediately available for comment, and declined to comment to the magazine.

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Reporting by Victoria Waldersee, editing by Emma Thomasson

Our Standards: The Thomson Reuters Trust Principles.

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