Bosch to get VW contract for EV batteries

German automotive supplier Bosch is set to receive a major contract to develop electric car batteries for Volkswagen, a person familiar with the matter told Reuters on Wednesday.

Awarding Stuttgart-based Bosch the contract would give VW a second battery supplier next to Japan's Sanyo. Both VW and Bosch declined to comment on the matter.

Volkswagen has said it plans to launch all-electric vehicles in 2013 and expects these zero-emission vehicles to account for 3 percent of its sales by 2018.

Reuters