Volkswagen Group CEO Herbert Diess arrives on the red carpet for the automobile awards "Das Goldene Lenkrad" (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019.
REUTERS/Hannibal Hanschke/File PhotoFRANKFURT, Dec 9 (Reuters) - Volkswagen (VOWG_p.DE) is readying its battery unit for a partial sale or listing and has agreed to convert it into a so-called European company, or Societas Europaea, to provide the conditions for such a move, CEO Herbert Diess said.
The CEO, who previously said that the unit could be independently listed, said that Volkswagen's battery division was expected to generate sales of 20 billion euros ($23 billion) by the end of the decade.
Volkswagen's battery efforts, which are led by management board member Thomas Schmall, include building six large cell factories with partners across Europe by 2030.
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Herbert Diess, Das, Hannibal Hanschke, Thomas Schmall, Christoph Steitz, Kirsti
Volkswagen, REUTERS, Thomson
Berlin, Germany, Societas, Europe