Germany will back three company alliances with β¬1 billion in dedicated funds for local battery production to reduce automakers' dependence on Asian suppliers, Economy Minister Peter Altmaier (pictured below) told Reuters.
Carmakers Volkswagen and BMW, as well as German battery maker Varta and Swedish battery maker Northvolt, were among the more than 30 companies that approached Germany's economics ministry about government funding.
βWe have now reached the point where we can say that there will most likely not be one consortium for the production of battery cells, but probably three,β Altmaier told Reuters in an interview.
In turn, European Commissioner for Energy Maros Sefcovic and European Commissioner for Competition Margrethe Vestager expressed support for the initiative to produce battery cells in Europe.
Source: 3dnews.ru