Herbert Diess was speaking to the German business publication Handelsblatt, and he expressed worry that European carmakers would be too dependent on Asian battery production as EV sales grow.
Noting that if individual carmakers took on the investment that it would be unlikely that competitor makers would buy from them, he said the automotive battery business would be worth up to €60bn a year by 2025, when electric vehicles are expected to represent 10pc of all car sales.
Dr Diess recently congratulated the city of Wolfsburg on its 80th anniversary, presenting the city with 12 mobile charging stations. He is pictured above with Wolfsburg Lord Mayor Klaus Mohrs.
