Volkswagen Invests CAD69M in Patriot to Acquire 9.9% Stake
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Volkswagen, through its subsidiary PowerCo, has invested CAD69 million in Canadian lithium developer Patriot to acquire a 9.9% stake, marking a strategic partnership.
December 19, 2024 | 5:45 pm
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Volkswagen, via its subsidiary PowerCo, has invested CAD69 million to acquire a 9.9% stake in Canadian lithium developer Patriot, indicating a strategic move into lithium resources.
The investment in Patriot by Volkswagen signifies a strategic move to secure lithium resources, which are crucial for electric vehicle production. This could positively impact VWAGY's stock as it aligns with the growing demand for EVs.
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