Volkswagen is keen on expanding its electric vehicle portfolio and if the latest update is confirmed, they are probably planning to become a company like Tesla with plenty of EVs under their lineup.

The information comes from a German newspaper which confirmed that they are planning to invest over a billion so as to build a huge gigafactory. The factory will produce bundle of batteries which will help the company power all their future electric vehicles. The production plant is expected to share a lot of similarities with the Tesla factory. It will also give an opportunity to Volkswagen so that they don’t have to rely on LG or Samsung to help them produce the batteries they need.

Electric vehicles are expanding at a rapid pace. All major automobile brands including Mercedes, Nissan, BMW, Honda, Chevrolet are following the footsteps of Tesla. Volkswagen is no different as the company likes to create a market for itself. They are looking forward to launch a sedan, a SUV and probably a crossover model so as to cater to different strata of buyers. According to Volkswagen chief Matthias Muller, the company has planned to sell at least one million electric cars in the next ten years and they are working towards achieving the target.

The diesel gate issue has had a negative impact on the Volkswagen brand. The company was found to be cheating with emission levels and was fined a huge sum so as to compensate government losses and to replace the vehicles of their customers. In a comeback, the brand aims to change the perspective by focusing more on electric vehicles. The EVs will allow them to set a new benchmark and get over past issues in an amicable manner.

Tesla is almost done with their Gigafactoryand will soon launch their Model 3 car. They have already launched the Model S sedan and the Model X SUV. The auto manufacturer faced plenty of delays in rolling out these vehicles due to delayed battery production. The upcoming factory is expected to solve their issue which is what Volkswagen is planning on. They have learned from the mistakes made by their competitor which has prompted the company to build a factory much earlier before the EV trend becomes mainstream.

There is no word on the name or the type of cars they are going to build but it won’t be long as auto expos are just around the corner, an ideal spot for such announcements.