Peter Altmaier (CDU), Federal Minister of Economics. (picture alliance/dpa)
Germany's Economics Minister Peter Altmaier, a member of the Christian Democrats (CDU), sees the billion-dollar project for European battery cell production on the right track. "We now have more than 20 companies participating in the two projects. This is a great success," said Altmaier on Wednesday in Paris after meeting with his French counterpart Bruno Le Maire, who is also the country's finance minister.
EU Commission Vice-President Maros Sefcovic launched a battery alliance in 2017. The aim is to build battery factories in time for the expected boom in electric cars in Europe. A consortium of companies has already come together, led by France with the Peugeot manufacturer PSA, its German subsidiary Opel and the Total subsidiary Saft.
In May, Altmaier had announced that the development of European battery technology would also create jobs in Germany. Regarding the possible start of production, he said at the time: "My hope is that this will happen by 2022."
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