France to lift investment in electric car battery cells

PARIS —
France plans to invest 0. 7 billion euros ($0. 79 billion) over the next five years to boost 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.