PARIS: European governments and companies will form an alliance for developing next-generation batteries for electric vehicles, investing five to €6 billion in the project, the French and German finance ministers said Thursday .
He said at least four billion euros would come from private companies, citing automaker PSA and the French battery maker Saft, a unit of French oil giant Total. Political leaders across the European Union have long called for a coordinated effort for home-made batteries that would free carmakers from having to rely on Chinese batteries as the industry shifts away from combustion engines.A pilot factory with around 200 employees will be opened in the coming months in France, with a goal of opening two production sites, in France and Germany, that would generate 1,500 jobs at each.
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