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Battery cells for electric cars are to be produced on a large scale in Europe in the future
Photo:
Hendrik Schmidt / DPA
The EU wants to further expand the battery sector.
By 2025, the company wants to be able to produce battery cells for at least seven million electric cars every year, as Federal Economics Minister Peter Altmaier, his French colleague Bruno Le Maire and EU Commission Vice-President Maros Sefcovic write in a guest article in the »Handelsblatt«.
In the end, "giant strides" have been made in building up industry, it says.
As a result, the EU is »able to build greater economic sovereignty and independence in a strategically important industry«.
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Economy Minister Peter Altmaier wants to invest up to 2.6 billion from state pots
Photo: CLEMENS BILAN / EPA
The EU Commission launched a European battery alliance in 2017 to reduce the domestic auto industry's dependence on Asian battery cell manufacturers.
By 2030, Europe's share of global production should increase to 30 percent.
Altmaier and Le Maire are planning two funding programs for this purpose.
As the Federal Ministry of Economics announced, 13 billion euros are to be invested, up to 2.6 billion from state pots.
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