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Germany announces $1 billion investment in local battery cell production to support EV growth
The German government doesn’t like to see its local automakers rely on battery cells from Asia to build electric vehicles, which is why it announced today a 1 billion euro investment to support local battery cell production.
Economy Minister Peter Altmaier said on Tuesday that it is imperative that they move quickly : “Production should start as quickly as possible.”
They want to “lay the groundwork in the months ahead for large-scale battery production in Europe and expected such production to start in Germany from 2021.”
Most of the efforts to bring battery production to Germany right now have to do with battery pack production from German automakers.
Yet, there are also a few efforts to bring battery cell production to the country, but it’s not directly led by German companies.
Read more on electrek.co