France, Germany to support battery cell consortium including PSA, Saft (updated)
29/04/2019 17:56
(Adds economy ministry spokeswoman)
BERLIN, April 29 (Reuters) - France and Germany have asked
the European Commission to approve state subsidies for a
cross-border battery cell consortium including carmaker PSA
PEUP.PA with its German subsidiary Opel and French battery
maker Saft, a German official said on Monday.
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. urn:newsml:reuters.com:*:nL8N1XF0BK
urn:newsml:reuters.com:*:nL5N20E4ON
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.
The FAZ report said that the PSA/Saft alliance was planning
to convert an Opel factory in the western city of Kaiserslautern
close to the French border into a battery cell production site.
Among the more than 30 companies that applied for state
funding at the German Economy Ministry are carmakers Volkswagen
VOWG_p.DE and BMW BMWG.DE , as well as German battery maker
Varta VAR1.DE and Swedish battery manufacturing startup
Northvolt. urn:newsml:reuters.com:*:nL8N2164GH urn:newsml:reuters.com:*:nL8N2125UG
Saft, a 100-year old French company owned by energy company
Total TOTF.PA , produces a range of batteries for industrial
applications.
It has joined forces with German industrial group Siemens
SIEGn.DE , electronic components specialist Manz M5ZG.DE ,
Belgian chemicals group Solvay SOLB.BR and Belgian material
group Umicore UMI.BR to develop a new generation of batteries
for electric vehicles.
($1 = 0.8966 euros)
(Reporting by Michael Nienaber; editing by Thomas Seythal and
Kirsten Donovan)
((michael.nienaber@thomsonreuters.com; +49 30 2888 5085;
Reuters Messaging: michael.nienaber.reuters.com@reuters.net
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