Connect with:
Saturday / May 26.

VW wants European industry to back push for EV battery cells

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) wants industrial players in Germany and Europe to help shoulder the costs for battery technology needed to power carmakers’ electric-vehicle offerings, the head of its core autos division said.

Europe’s largest automaker, its German rival Daimler (DAIGn.DE) and PSA Group (PEUP.PA) used the Frankfurt auto show this week to speed up their push for zero-emissions motoring.

Volkswagen (VW) will expand its planned roll-out of electric cars to 80 models by 2025 from 30 a year ago and said it would need four times the capacity of Tesla’s (TSLA.O) “gigafactory” to supply their batteries.

“It would be desirable for the German and European industry to play a stronger role here,” VW brand Chief Executive Herbert Diess said when asked about the prospects for battery-cell production.

Reporting by Andreas Cremer and Jan Schwartz; Editing by Christoph Steitz

Our Standards:The Thomson Reuters Trust Principles.

via Reuters