Germany to support three battery cell alliances - economy minister
18/06/2019 13:45
BERLIN, June 18 (Reuters) - Germany will support three
company alliances with earmarked funds of 1 billion euros for
the domestic production of battery cells in an effort to reduce
carmakers' dependence on Asian suppliers, Economy Minister Peter
Altmaier told Reuters.
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.
France and Germany have already asked the European
Commission to approve state subsidies for a cross-border battery
cell consortium including carmaker PSA PEUP.PA , its German
subsidiary Opel and French battery maker Saft TOTF.PA .
"We've now reached a point where we can say that there is
likely to be not only one battery cell consortium, but probably
three," Altmaier said in a Reuters interview.
The Economy Ministry will submit all necessary state aid
documents to the European Commission once it has completed its
selection process, Altmaier said.
The European Union allows state aid under certain conditions
under its rules for Important Projects of Common European
Interest (IPCEI).
Europe's Energy Commissioners Maros Sefcovic and Competition
Commissioner Margrethe Vestager have signalled support for the
battery cell initiative.
"We hope that by the end of the year we will have clarity
from Brussels," Altmaier said, adding that the growing interest
of the industry in the scheme showed that Berlin was right in
pushing ahead with its new industrial policy plan.
Altmaier denied to comment on which companies have the best
chances to get the earmarked state funds.
Northvolt and Volkswagen have said earlier this year that
they are planning to set up a joint venture to build a battery
plant in Salzgitter, Germany. urn:newsml:reuters.com:*:nL8N23J3DK
(Reporting by Michael Nienaber
Editingy by Joseph Nasr)
((michael.nienaber@thomsonreuters.com; +49 30 2888 5085;
Reuters Messaging: michael.nienaber.reuters.com@reuters.net
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