Germany’s economy minister Peter Altmaier announced on Tuesday a €1bn investment to support battery cell production facilities in Germany and Europe until 2030.
France, Austria and Poland are willing to join the initiative, Altmaier said, speaking at a conference on Electromobility in Berlin.
Commission vice-president in charge of the EU energy union, Maroš Šefcovic, backed the announcement. “The battery market in Europe could be worth €250bn per year from 2025 onwards,” he told the conference, citing internal forecast figures.
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