The Volkswagen Group has nominated 44 of its suppliers to collaborate on a new strategic level under the Future Automotive Supply Tracks (FAST) initiative. One of the first batch of preferred suppliers is LG Electronics, which provides high-voltage batteries for the Groupâ€™s various plug-in vehicles.
Volkswagen launched the FAST program in February with the aim of implementing joint technological innovations faster, and realizing worldwide vehicle projects more efficiently and effectively. The first 44 suppliers, considered by VW to be outstanding partners, were selected after extensive performance evaluations.
â€œIn future, it will not be the corporation with the best negotiating skills that has the advantage, but the one that has also successfully established an optimal supplier network,â€ said VW Board Member Francisco Javier Garcia Sanz. â€œThe nominated FAST suppliers are important beacons in our network and I am looking forward to even closer and more intensive collaboration.â€