Rumored: Volkswagen Considers Building Their Own Battery Factory

German business paper Handelsblatt reports that Volkswagen us considering building its own battery factory as part of a major expansion of its electric car lineup. This is part of a plan being worked on by CEO Matthias Müller and his team to increase electric vehicle sales to one million within the next ten years. The plan will also help resuscitate the negative image brought on by the diesel emission scandal.

“We want to launch a major initiative, one that will put us at the top of the industry,” a source tells the paper.

Volkswagen's non-executive supervisory board will look at the plans before the annual meeting on June 22nd. It is expected the plan will be approved by Volkswagen's executive board.

Pic Credit: Volkswagen