Germany could help finance three separate corporate alliances for the domestic production of battery cells for Europe’s growing electric vehicle market, according to the country’s economy minister.
Peter Altmaier (pictured) told Reuters: “We’ve now reached a point where we can say that there is likely to be not only one battery cell consortium, but probably three.”
The consortia would be in line for a share of €1 billion (US$1.1bn) of investment in production from Germany, which Altmaier pledged last year.
One consortium seeking funding, named earlier this year, includes Swiss battery manufacturer Leclanché and German battery peers BMZ, TerraE, Customcells, EAS and Liacon.
The Economy Ministry will submit all necessary state-aid documents to the European Commission once it has completed its final selection process, Altmaier told Reuters.
The European Union allows state aid under certain conditions under its rules for ‘important projects of common European interest’.
Altmaier said: “We hope that by the end of the year we will have clarity from Brussels.”