The partnerships and the capital that comes along with it are really going to put us on a good footing to execute on our road map, which simply speaking is qualifying this technology for vehicle use and getting them into vehicles in the not-too-distant future.
Carmakers are racing to develop EVs amid tightening CO2 emission standards in Europe and China.
European car manufacturers, who mainly rely on battery suppliers in Asia, are looking to reduce their dependence from abroad in light of a ramp-up in e-cars production to meet tougher environmental rules in the European Union.
"Battery cells are a key technology for Germany's automobile industry which we must also have in our own country," Oliver Blume told the newspaper in an interview to be published on Sunday.
It also planned to push ahead in helping develop applications for the coming advent of superfast 5G connections, in cloud computing, and in the software business.
Electrified models such as battery electric vehicles (BEV), plug-in hybrids and hybrid electric cars will be introduced, the company said in a statement.
Lexus also unveiled a BEV concept car, the "LF-Z Electrified", which will include features such as a new four-wheel driving force control technology.
The revised name takes effect in May and the announcement came after several outlets on Monday reported on a draft release mistakenly posted on the automaker's US website.
We might be changing out our K for a T, but what we aren't changing is this brand's commitment to making best-in-class vehicles for drivers and people everywhere.
The company also reaffirmed all its passenger vehicles in Europe will be fully electric or plug-in hybrids by mid-2026 and all-electric by 2030.
The move comes as Ford is investing heavily in developing connected electric vehicles, with plans to spend $22 billion in electrification through 2025.
Volkswagen plans to use the prismatic type of battery, increasingly turning to supplies from China's Contemporary Amperex Technology Co Ltd (CATL), South Korea's Money Today online news site reported earlier on Monday, citing unnamed South Korean battery industry sources.
The German carmaker declined to comment. Volkswagen plans to announce its battery procurement plans at its Power Day event on Monday, Money Today reported.
Mitsubishi Motors will invest an additional 11.2 trillion rupiah ($778 million) in Indonesia by the end of 2025 and develop two electric vehicles in the country, Agus said in a statement released late on Wednesday.
The offices of Mitsubishi and Suzuki in Indonesia did not immediately respond to requests for confirmation late on Thursday, which was an Indonesian national holiday.
