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Germany to Back Three EV Battery Cell-Making Partnerships

Germany’s government intends to invest a combined €1 billion ($1.1 billion) to support three partnerships created to launch battery cell production in Europe.
#europe #PSAPeugeotCitroen #Volkswagen

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Germany’s government intends to invest a combined €1 billion ($1.1 billion) to support three partnerships created to launch battery cell production in Europe.

Economy Minister Peter Altmaier tells Reuters that Germany is in the process of clearing its funding plan with European Commission regulators later this year. France has made a similar declaration of support for multi-national consortiums.

Reuters note that more than 30 companies—including BMW, PSA Group, Northvolt, Saft, Varta and Volkswagen Group—have applied for state funding.

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