BERLIN -- Volkswagen and Robert Bosch plan to set up a joint venture by the end of this year to equip battery cell factories and help make Europe self-sufficient in battery production.
The unit will explore the possibilities of industrial-scale solutions for battery manufacturing in Europe, VW and Bosch said in a statement on Tuesday.
The new venture will deliver battery production systems as well as assisting battery cell manufacturers in scaling up and maintaining their production sites, VW said.
"Europe has a one-time chance to become the global powerhouse for batteries in coming years," VW's technology chief, Thomas Schmall, said in the statement.
"We are working to build a complete, localized, European supply chain for 'made in Europe' e-mobility," Schmall said.
VW plans to have six battery cell production plants in Europe by 2030 with a joint capacity of 240 gigawatt hours (GWh), in an attempt to control as much of the supply chain as possible. The plan is key step in VW's bid to outdo Tesla and become the world's top seller of electric vehicles.