OREANDA-NEWS. Company Volkswagen plans to build a new plant for the production of batteries for electric cars. Investment in the project could reach up to 10 billion euros. The company should help sell the concern of one million electric cars and plug-in hybrids annually. The companies expect to reach such indicators in 2025, including through tightening of environmental regulations in many countries around the world, writes AutoNews.ru.

According to preliminary data, the new plant will be located in Salzgitter - 54 km from the headquarters of the Group in Wolfsburg. By 2020, the German company plans to introduce 20 new electric and hybrid cars.

The same company is planned to be opened on June 29 by Tesla. The plant called Gigafactory located in the desert of Nevada. Investments in the project were $ 5 billion. The company will start to produce lithium-ion batteries for Tesla vehicles. According to the Tesla, Gigafactory power plant will be increased gradually in accordance with demand. The capacity of plant will permit to produce up to 500,000 electric vehicles a year and these volumes will be reached by the company in 2018. Earlier it was planned that such a volume of the company will be able to reach only in 2020. Due to the new plant Tesla Motors hopes to reduce the cost of batteries, which will help to start the mass production of affordable electric cars. It should be noted that participation in the project will be also taken by Gigafactory Panasonic Corp. The company will take over the obligation to equip the plant with the equipment for the production of batteries.