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France, Germany to support battery cell consortium including PSA, Saft

BERLIN (Reuters) - France and Germany have asked the European Commission to approve state subsidies for a cross-border battery cell consortium including carmaker PSA with its German subsidiary Opel and French battery maker Saft, a German official said.

The two countries have earmarked 1.7 billion euros ($1.9 billion) to support company alliances to help reduce European carmakers’ dependence on Asian suppliers and protect jobs at risk from the shift away from combustion engines.

The economy ministries of both countries sent a letter of intent to the European Union’s executive body asking it to give a provisional go-ahead, a German economy ministry spokeswoman said, without giving a sum for the planned state funding.

“We’re now waiting for Brussels to give us the green light,” the spokeswoman said, confirming an earlier report by FAZ newspaper.

German Economy Minister Peter Altmaier will meet French counterpart Bruno Le Maire in Paris on Thursday to discuss the matter, aiming to make progress with forging further battery alliances.

Source : https://uk.reuters.com/article/us-europe-batteries/france-germany-to-support-battery-cell-consortium-including-psa-saft-idUKKCN1S51I0




 
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