France goes to war on Asian batteries
France has announced that it is ready to help boost the European electric car battery industry by investing 700 million Euros over the next five years into projects which will reduce its carmakers’ reliance on Asian rivals. The move was announced by ,President Emmanuel Macron earlier this week, speaking to the Paris-based International Organization of Motor Vehicle Manufacturers. He stated: “As the president of France, I cannot be happy with a situation where 100% of the batteries of my electric vehicles are produced in Asia.”
Towards the end of last year, France’s great EU ally Germany indicated it was to invest up to one billion Euros in a similar move. All of this is also in a context where there is a growing move away from traditional internal combustion engines, and is thus a way of instigating some sort of ulterior job shift.