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Macron raises alarm on European battery dependence

Mon, 02/18/2019 - 00:00 -- Hugh Finzel

France will invest €700 million (US$788.8 million) over the next five years to boost the European battery industry and reduce reliance on Asian battery makers, President Emmanuel Macron has said.

Speaking to the International Organisation of Motor Vehicle Manufacturers in Paris, Macron said that Europe needs a “wake-up call” on batteries, referencing the threat of external dependence for an increasingly vital resource in an era of international trade wars.

“In terms of sovereignty and independence, I think it’s not good in the long run for our industry to be 100 per cent reliant on non-Europeans,” Macron was quoted by Reuters as saying.

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