In an effort to make amends for its diesel emissions cheating scandal, Volkswagen wants to make plug-in electrified vehicles in a big way, and for that, it needs batteries.
According to the German publication Handelsblatt, the company is working toward a multi-billion euro plant enabling it to take control of its electrified car destiny, and not be solely reliant on Asian batteries, such as from LG Chem, Panasonic, and Samsung.
A non-executive supervisory board will consider plans floated by VW Chief Executive Matthias Müller and a team before VW’s June 22 annual meeting.
The plant will need to be big enough to support the goal of increasing PEV sales within the next 10 years to 1 million, reports Handelsblatt.
The similitude to Tesla’s “Gigafactry” has been suggested by others given that the cost of the plant, and scale of batteries needed mean it will be a massive plant, though certainly more details are needed.
Handlesblatt meanwhile says an approval looks likely by VW’s board and with support also by the state of Lower Saxony.
“We want to launch a major initiative, one that will put us at the top of the industry,” said one insider familiar with the plans.
A full story is available to subscribers of the Handlesblatt global edition.