Continental AG (CON.XE) is considering establishing its own battery production for electric vehicles, the company said Monday.
The German company could make investments of around EUR3 billion into setting up production, if it decides to go ahead with the plans.
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The plants under consideration could produce enough batteries for up to 500,000 vehicles per year.
German car magazine Automobilwoche first reported the news.
Production could start as early as 2024, according to the company.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
November 13, 2017 04:30 ET (09:30 GMT)