Porsche To Build EV Battery Cells Factory In Germany: Report

In a bid to speed up its e-mobility drive, the German carmaker Porsche is reportedly planning to set up a factory to produce battery cells for electric vehicles. As reported by Reuters, this plan was confirmed by the company's CEO to a local German newspaper. The European carmakers are looking to ramp up production of the electric cars to meet stringent environmental rules in the European Union. Moreover, they are also aiming to reduce their dependence on battery suppliers in Asia.

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In an interview with a local newspaper, Oliver Blume said that "Battery cells are a key technology for Germany's automobile industry which we must also have in our own country." He also said the carmaker wants to play a pioneering role in this step.

Porsche will purchase EV batteries from its parent company Volkswagen

He also confirmed that the battery cell factory would be built in the Swabian town of Tuebingen, Germany. Moreover, the company will purchase EV batteries from its parent company, which plans to build half a dozen battery cell plants across Europe. Volkswagen also intends to expand infrastructure for charging electric vehicles across the globe.

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Blume further said, "But there will also be a segment for high-performance battery cells. It's a Porsche domain. Just as we developed high-performance internal combustion engines, we now want to be at the forefront of high-performance batteries."