France, Germany agree on first battery cell consortium, report says

France and Germany have earmarked 1.7 billion euros to support several company alliances looking to produce electric car battery cells to help reduce the dependence of European automakers on Asian suppliers such as China's CATL, which plans to start operations at a cell factory like this one (shown) in Germany in 2022.

MN

By:

Michael Nienaber

|

R

By:

Reuters

April 29, 2019 04:21 PM

BERLIN -- France and Germany have asked the European Commission to approve state subsidies for a cross-border battery cell consortium involving PSA Group, its German subsidiary, Opel, and Total's Saft, a German newspaper reported on Monday.

Featured Stories

New Stellantis CEO Antonio Filosa faces series of hurdles

Filosa’s ability to honestly assess where Stellantis has erred in recent years could prove vital as he works to repair relationships with dealers, suppliers and employees.

New Stellantis CEO Antonio Filosa faces series of hurdles

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Finance Insurance

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

Latest News

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Live updates on tariffs: Court rulings sow tariff confusion

Daily 5 report for May 30: A look at some Ford family dynamics

Staying current is easy with newsletters delivered straight to your inbox.

See More in Automakers

Honda Canada certifies used vehicles up to 10 model years old amid affordability challenge

BMW, Mercedes, VW said to be in talks with U.S. over possible tariff deal

Cars & Concepts: New and refreshed offerings from Kia, Subaru, Lexus, more

BYD’s latest incentives dim industry outlook for profits

Staying current is easy with newsletters delivered straight to your inbox.