Varta, which currently specializes in batteries for hearing aids and large storage systems for solar energy, has agreed a cooperation deal with Germany’s Fraunhofer Institute, a scientific research body, the two parties said on Monday.
The German government has earmarked 1 billion euros ($1.1 billion) to support domestic companies looking to produce battery cells for electric vehicles as a way to reduce German carmakers’ dependence on Asian suppliers and protect jobs at risk from the shift away from combustion engines.
