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Volkswagen is considering granting a majority in its battery division-board member

Volkswagen is considering granting a majority in its battery division-board member

Volkswagen might end up buying a minority share in its battery division, which might be listed in an initial public offering at some point, according to a newspaper.

Thomas Schmall has told Frankfurter Allgemeine Sonntagszeitung that "if electric vehicles sales expand as planned it would make sense to join external investors."

"For that one does not necessarily need the majority," says the author.

Volkswagen's plan to build six large battery cell plants across Europe by 2030, according to Schmall, a key part of the carmaker's efforts to overtake Tesla as the world's top seller of electric vehicles.

The company previously said it would do so with outside partners and funding.

Schmall said that the company might imagine supplying rivals with its battery cells in the long term.

"We want to set a standard for our industry," he was quoted as saying.

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