With plans to massively increase the number of electric vehicles it sells, the Volkswagen Group is reportedly admitting that it would make business sense to produce its own batteries.

“If more than a quarter of our cars are to be electronic vehicles in the foreseeable future then we are going to need approximately 3 million batteries a year," Matthias Mueller, VW Group CEO told  Frankfurter Allgemeine Sonntagszeitung . "Then it makes sense to build our own factory."

The report is supported by Volkswagen's recent announcement after sitting down with union leaders, that it would be adding 9,000 jobs in the area s of electric vehicles and  mobility in German factories.

That announcement came along with another announcement that the Volkswagen brand would cut 30,000 jobs (though not through forced redundancies).

New battery plants would cut Volkswagen’s dependence on the external battery suppliers that currently provide batteries for its electric vehicles, like the newly update e-Golf and Audi A3 e-tron.

[source: Automotive News ]