# VW and Umicore name $3B battery parts JV Ionway

Volkswagen and Umicore have named their new battery parts joint venture Ionway. The venture is valued at $3 billion.

- Type: Partnership
- Announced: 2023-10-06
- Value: $3.00B
- Status: announced
- Products: battery parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Volkswagen](https://endata.com/companies/533.md) (partner)
- [Umicore](https://endata.com/companies/19787.md) (partner)

## Sources

- [autonews.com](https://www.autonews.com/automakers/vw-and-umicore-name-their-new-battery-parts-jv-ionway/), 2023-10-06: "VW, Umicore $3B battery parts company to be called Ionway"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.