France, Germany plan to create leading battery industry

Combined Shape

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.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →






We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation