Tuesday , November 24 2020

"Germany allocates 1 billion euros for electric car battery production"



Germany's Energy and Energy Minister Peter Altmeyer said Germany had accelerated work on battery cell production and added that "it has allocated 1 billion euros for the production of battery cells in Europe." he said.

Altemeyer said in a statement, Germany is working to produce a large-scale battery in Europe, and to support private sector consortia on this issue, he said.

Battery cell production is expected to begin in Germany in 2021 Altmaier, "Battery cells in Europe for the production of 1 billion euros allocated to production should start as soon as possible." Used.

Altmaier, France, Austria, the Netherlands and Poland with the government to negotiate on battery production recalled, recalling that there is much interest in private sector consortia concrete investment decisions announced in the first quarter of next year, he said.

The supply of battery cells, which constitute a significant part of the value added in the production of electric cars, is of great importance to the German industry. Electric motors contain fewer parts than oil-powered motors.

In recent years, breakthrough technologies in the automotive industry from China and the United States have been the subject of discussion among the German public, while the world's largest manufacturers include Chinese CATL, LG Chem and Samsung. The battery market is expected to reach 250 billion euros by 2025.


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