Germany to support three battery cell alliances: economy minister [Reuters]
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Source: Reuters
Germany to support three battery cell alliances: economy minister BERLIN (Reuters) - Germany will support three company alliances with earmarked funds of 1 billion euros for the domestic production of battery cells in an effort to reduce carmakers’ dependence on Asian suppliers, Economy Minister Peter Altmaier told Reuters. Among the more than 30 companies that applied for state funding at the German Economy Ministry are carmakers Volkswagen and BMW, as well as German battery maker Varta and Swedish battery manufacturing startup Northvolt. France and Germany have already asked the European Commission to approve state subsidies for a cross-border battery cell consortium including carmaker PSA, its German subsidiary Opel and French battery maker Saft. “We’ve now reached a point where we can say that there is likely to be not only one battery cell consortium, but probably three,” Altmaier said in a Reuters interview. The Economy Ministry will submit all necessary state aid documents to t
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