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BREAKING NEWS

Volkswagen set to announce battery production plans - sources

Volkswagen set to announce battery production plans - sources
FILE PHOTO: The logo of Volkswagen in Berlin, Germany February 27, 2019. REUTERS/Fabrizio Bensch/File Photo -
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Fabrizio Bensch(Reuters)
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BERLIN (Reuters) - Volkswagen's supervisory board is on the brink of announcing the automaker's entry into battery cell production, two people familiar with the matter told Reuters on Monday.

Production is expected to be implemented in Germany, one of the insiders said. Volkswagen declined to comment. The supervisory board was meeting in Berlin on the eve of the annual general meeting.

Battery cells are a key battleground in the automotive industry as it shifts to electric mobility. Currently the industry chiefly sources its requirements from Asian manufacturers.

Volkswagen Chief Executive Herbert Diess said last year the company was considering building its own solid-state battery cells, with possible serial production from 2024 or 2025.

(Reporting by Jan Schwartz; Writing by Emma Thomasson; Editing by Jan Harvey)

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