The battery cell "is tomorrow's combustion chamber," Porsche CEO Oliver Blume declared at parent Volkswagen Group's Power Day.
The VW event, which came not long after Tesla's Battery Day in September 2020, marked the first of a series of announcements from European automakers that laid out their plans to replace internal combustion engines with battery- driven propulsion.
They included VW's Power Day in March, Renault's eWays ElectroPop event in June, and Stellantis' EV Day and Daimler's EV strategy announcement, both in July.
The automakers used the events to expand on how they were going to meet the 468 gigawatt-hours of battery cell capacity IHS Markit estimates will be needed in Europe to meet the European Union's proposed 55 percent CO2 reduction target by 2030.
The promise of new battery plants, mostly with cell partners, was the concrete result of €2.9 billion ($3.5 billion) of investments from EU countries promised under the European Battery Innovation Project, which aims to create 18,000 new jobs and help replace those lost in the shift away from internal combustion engines.
The online events went beyond investment announcements. Europe's automakers also laid out a series of PowerPoint slides, with varying degrees of detail, outlining how they would offer different battery chemistries and unify battery-pack design to balance customer demands for increased range and lower cost.
At the same time, executives such as Porsche's Blume introduced the idea that, far from being just a commodity, battery cells are as much a differentiator for automakers as the combustion engine ever was.