SALZGITTER, Germany – Many of the world’s traditional automakers are racing to develop their own batteries for electric cars, adopting a strategy that helped make Tesla Inc. the largest player in the market.
The years of effort of Volkswagen AG shows the challenges.
Analysts forecast that the German giant, which is already one of the world’s two largest automakers by sales, will be its biggest electric vehicle maker next year.
However, building a profitable battery is key to determining whether the momentum makes Volkswagen money.
VW unveiled its first battery production plans in 2019. Industry analysts say the company is more advanced than most of its older car peers in developing in-house battery capacity, but initially underestimated the scale. and the complexity of the task, according to the company. executives.