Porsche plans EV battery factory in Germany

Tough rules: A Porsche Taycan electric vehicle on display at an auto show. European car manufacturers are looking to reduce their dependence on battery suppliers from abroad. — Reuters

BERLIN: Volkswagen’s luxury sports car unit Porsche AG is speeding up its e-mobility drive with plans for a German factory to manufacture battery cells for electric vehicles, its chief executive officer told Frankfurter Allgemeine Sonntagszeitung.

European car manufacturers, who mainly rely on battery suppliers in Asia, are looking to reduce their dependence from abroad in light of a ramp-up in e-cars production to meet tougher environmental rules in the European Union.