Volkswagen will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters. VW has said it will buy 50 billion euros ($56.57 billion) worth of battery cells and has identified Sweden’s Northvolt, South Korea’s SKI ( 096770.KS ), LG Chem ( 051910.KS ) and Samsung SDI ( 006400.KS ) as well as China’s CATL ( 300750.SZ ) as strategic partners. “Not every supplier is convinced that electric mobility will come on such a large scale. You need to spend more time convincing them to invest in the auto industry,” Sommer told Reuters. Volkswagen said that by 2025, it needs […]