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France to lift investment in electric car battery cells1

2020-06-19

GSL Energy

PARIS -
France plans to invest 0. 7 billion euros ($790 million)
In the next five years, it will increase the production of electric vehicle batteries.
French President Macron\'s advisers say he will announce the news at a dinner in Paris on Wednesday night for international automakers, a centennial event organized by international automakers.
Before the president spoke, they were anonymous.
The German government announced on last November that it had allocated about 1 billion euros ($1. 1 billion)
Support battery production.
France and Germany want to produce batteries on a large scale in Europe to maintain international competition and reduce the dependence of European automakers on Asian battery suppliers.

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