Volkswagen seeks partners for battery materials race

Volkswagen is in talks with suppliers to secure direct access to raw materials for electric vehicle (EV) batteries via partnerships, one of its board members told Reuters on Tuesday. The world's second biggest carmaker is trying to exert more control over key components in its supply chain such as semiconductors and lithium so it can overcome any potential bottlenecks and keep its plants running at full capacity. The German carmaker is also trying to catch up with rivals such as Tesla and BMW which have already struck supply deals with producers of lithium, one of the main components in EV batteries.