Germany bets €1 billion on batteries

Germany's government has, according to the declaration, already reserved the amount for supporting the development of battery cell production in Germany, but it is hoping that project proposals within the sector qualify as an Important Project of Common European Interest (IPCEI), which would see them gain access to the EUR 1 billion IPCEI fund, a press release from Germany Trade and Invest reads. "The objective of a French-German Cooperation shall be focused on the support of cooperation between companies, research institutes and platforms in the field of battery cell production and across the value chain, from the raw materials suppliers to the car manufacturers, with clear commitments of the parties," the declaration states. These fields of cooperation would include – but not be limited to – industrial aspects of battery cell production and related technologies. "This technology is critical to the future strategy of Germany as a tech location," says Robert Herrmann, CEO of Germany's federal economic development agency Germany Trade & Invest (GTAI). "Synergy and investment between industrial nations is crucial to better technological advance, so to sign such a declaration with France under the EU umbrella is a great step forward." The IPCEI is already set to bestow EUR 1 billion on German R&D projects, after a decision by the European Commission for the funding of microelectronics, as a part of the IPCEI, has cleared the way for German companies to gain access to EUR 1 billion of funding from the German government for their R&D activities.