Volkswagen started battery production at its Salzgitter gigafactory on Wednesday, and its battery division, PowerCo, plans to do the same in Spain and Canada in the next three years. But PowerCo CEO Frank Blome told reporters that the company is stepping up its search for funding partners, saying that if Volkswagen generates less money, it will cut PowerCo’s operating budget. (Reuters, The Logic)

Talking point: Volkswagen, like most German carmakers, has been struggling: it ended car production at a German factory for the first time in its history this month. The company started construction on its Canadian gigafactory in late October and has begun recruiting workers. Bloomberg reported on Wednesday that while Volkswagen doesn’t plan to halt that construction, it expects to start serial production in 2028, after the 2027 opening date it originally proposed. PowerCo spokesperson Tegan Versolatto said the Canadian plant remains on track for “initial production” in 2027, “followed by a demand-based ramp-up for commercial production,” adding that PowerCo had always planned to seek outside investors for the gigafactories.