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Tags: APFN | EU | France | Germany | Batteries

France, Germany Plan to Create Leading Battery Industry

France, Germany Plan to Create Leading Battery Industry

Thursday, 02 May 2019 08:38 AM EDT

PARIS (AP) — France and Germany have unveiled details of a plan to create a leading electric battery industry in Europe, from the extraction of raw materials to recycling.

French Economy minister Bruno Le Maire said about 5 billion euros ($5.6 billion) are to be invested in the Franco-German project, including 1.2 billion euros of public subsidies.

A pilot plant will be based in France and two production plants, each of 1,500 employees, will be built in both countries.

Le Maire said during a visit by his German counterpart Peter Altmaier to Paris: "This is an example of what Europe can do when united."

European Commission Vice President Maros Sefcovic welcomed the move as EU production represents only 3% of the world market and wants to compete with the U.S. and China.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
France and Germany have unveiled details of a plan to create a leading electric battery industry in Europe, from the extraction of raw materials to recycling.French Economy minister Bruno Le Maire said about 5 billion euros ($5.6 billion) are to be invested in the...
APFN,EU,France,Germany,Batteries
131
2019-38-02
Thursday, 02 May 2019 08:38 AM
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