• Home
  • Contact Us
  • Privacy Policy
  • Login
No Result
View All Result
SmartyBusiness
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales
No Result
View All Result
SmartyBusiness
No Result
View All Result
Home Industry

France and Germany commit to European electric battery industry

by Loknath Das
May 3, 2019
in Industry
0
VIEWS
Share on FacebookShare on Twitter

France and Germany commit to European electric battery industry

PARIS: France and Germany agreed on Thursday to jointly invest in the European production of electric vehicle batteries, taking on the United States and China in what is emerging as one of the world’s most competitive industries.

French Finance Minister Bruno Le Maire said the goal was to establish two production plants over the next four years, one in France and one in Germany, with around 1,500 employees in each.

Initially the plants would produce enhanced liquid batteries before moving to solid-state technology by 2025-26.

Le Maire said a total of 5-6 billion euros ($5.6-$6.7 billion) would be invested.

“This is of strategic importance for Europe,” said Le Maire, speaking alongside his German counterpart Peter Altmaier and the European commissioner for energy, Maros Sefcovic, whose approval was needed for the provision of public subsidies.

Le Maire added that the deal would allow Europe to remain competitive against the U.S and China.

Earlier this week, France and Germany asked the European Commission to approve state subsidies for a cross-border battery cell consortium including carmaker PSA, German subsidiary Opel and French battery maker Saft.

A number of battery projects have been announced in recent months, including the formation of industry consortiums designed to reduce dependence on Asian battery supplies and ensure European investment does not lag behind.

France’s Saft, owned by energy company Total produces a range of batteries, including for back-up power and industrial applications, but not yet for electric vehicles.

Last year, it created an alliance with German industrial group Siemens, Solvay and Manz to develop a new generation of batteries.

The group will focus on advanced high-density lithium-ion and solid-state technology, targeting the market for electric vehicles and the railway and marine sectors, among others.

Saft also recently struck a deal to expand its presence in China.

Altmaier said it was clear electric vehicles were set to overturn the global car industry’s value chain, meaning Europe had to ensure it was well positioned to compete.

“The challenge for Europe is to continue to build the best and most successful cars in the world, and that is why we must build up industrial competence in those areas to which the value creation will shift,” he said.

“Our aim is not just to meet the European car industry’s demand,” he said. “We want to export internationally, making clear that batteries ‘made in Europe’ will be an important kitemark.”

($1 = 0.8945 euros)

[“source=energy.economictimes.indiatimes”]

Tags: AndBatterycommitElectricEuropeanFranceGermanyIndustryTo
Loknath Das

Loknath Das

I am a blogger with the main motive of writing articles at my choice of level. I do love to write articles and keep my website updated regularly , if you love my article then be sure to share with your friends as they would love to read my article...

Next Post
SBI personal gold loan: Get up to Rs 20 lakh; Check benefits, interest rate, eligibility, other details

SBI personal gold loan: Get up to Rs 20 lakh; Check benefits, interest rate, eligibility, other details

Recommended

iPhone Sales in India Rose Over 50 Percent This Year; Apple Banking on Reliance Jio, Middle Class for Future Growth

iPhone Sales in India Rose Over 50 Percent This Year; Apple Banking on Reliance Jio, Middle Class for Future Growth

7 years ago
Yamaha YZF-R15 Version 3.0 vs Yamaha FZ25: Which one for whom?

Yamaha YZF-R15 Version 3.0 vs Yamaha FZ25: Which one for whom?

6 years ago

Recent Post

  • How Different is Online marketing from Offline marketing
  • Know Customer Service points Roles and Responsibilities
  • The Business Lessons To Be Learned From Poker
  • Document management system’s security
  • 4 Ways New Companies Protect Themselves
  • Aadhaar Enabled Payment System (AEPS) – Biznext
SmartyBusiness

Navigate Site

  • Home
  • Contact Us
  • Privacy Policy

Follow Us

No Result
View All Result
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In