CAPTION: Peter Altmaier (L), German Minister for Economic Affairs and Energy, and MarosSefcovic, European Commissioner for the Energy Union, give a joint press conference after a meeting. (SoerenStache/dpa/archive)
The German government is to provide a subsidy of 1 billion euros (1.1 billion dollars) to set up a battery cell plant in Germany, seeing their manufacture as a "key technology," Economy Minister Peter Altmaier said in Berlin on Tuesday.
Speaking after a meeting with EU Energy Commissioner MarosSefcovic, Altmaier said the funding was in line with European Union assistance regulations and would be distributed from his ministry by 2021.
German companies had shown rising interest in becoming involved in the manufacture of battery cells, and several consortia were being formed, with definite results expected by the end of this year, Altmaier said.
Mastering the technology was important for maintaining German and EU competitiveness, Altmaier said. "It's about jobs," he added.
Analysts have charged that Germany's key automotive sector has been slow to make the shift to battery-powered vehicles. Makers of electric vehicles currently source their cells from Asian suppliers and then build them into batteries.
The government and the trade unions have been pressing the sector to find a German or at least a European solution.
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