Electric car
7 May 2019

European industry: €5-6bn for an "Airbus-style consortium for electric vehicle batteries"

On 2 May 2019, Minister of Economy and Finance Bruno Le Maire welcomed his German counterpart Peter Altmaier and Vice-President of the European Commission Maroš Šefčovič to his offices in Paris' Bercy district for a review of the Franco-German plans to produce electric vehicle batteries – a major step forward for European industry.
 
The European Commission has confirmed its strategic backing for the proposed consortium and the latter's relevance for European industry. The aim is to secure the Commission's final approval by the autumn.

The Franco-German plans represent €5 to 6 billion worth of investments, including up to €1.2bn from public subsidies. This proposed consortium comes in response to calls from such French and German manufacturers as Total, Saft, PSA and Opel.

It will enable a pilot facility to be set up as early as 2020 in France, followed by two plants in 2022-2023 (one in France and one in Germany). Each of the plants will potentially provide around 1,500 jobs.

Other Member States are set to be brought on board this Franco-German consortium to establish a complete electric battery production value chain going from ore extraction and battery manufacture all the way to recycling.

The success of this consortium will be instrumental in strengthening Europe's independence and cementing our technological sovereignty as regards the United States and China.


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