Volkswagen said it would create a unit to manufacture electric car batteries as it prepares to mass produce electric cars and overhaul its components division which currently makes engines, gear boxes and steering components.
Volkswagen on Friday said it was investing 870 million euros ($985.45 million) until 2020 into developing e-vehicle components, adding that the batteries division will take on responsibility for manufacturing battery cells and packs as well as overseeing recycling of old cells.
