Volkswagen Securing Future EVs With Battery Billions – Report

Volkswagen’s cash supplies may have dwindled following the ongoing diesel emissions scandal, but that hasn’t stopped the carmaker from investing heavily in its future electric models.

That’s the word out of Germany, with local newspaper Handelsblatt reporting Volkswagen’s plans for a multi-billion euro battery manufacturing facility.

Such a plant would give the German carmaker some ammo to tackle EV giant Tesla.

Tesla’s battery ‘Gigafactory’ (in conjunction with Panasonic - pictured, below) was described by Tesla CEO Elon Musk as a critical part of the success of Tesla’s new ‘people’s car’, the Model 3.

Batteries