European governments and companies will form an alliance for developing next-generation batteries for electric vehicles, investing five to six billion euros (US$6.7 billion) in the project, the French and German finance ministers said on May 2.
France’s Bruno Le Maire said a maximum of 1.2 billion euros in public subsidies would be granted to the alliance, at a press conference with his German counterpart Peter Altmaier.
“Other member states have already expressed interest in joining this project,” Le Maire said, including Italy, Belgium, Poland, Austria and Finland.
