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France had committed 700 million euros and Germany would offer 1
billion euros toward a project that envisaged setting up plants
in both nations in future, the source said of the plans. A
minister said the plans would be announced on Thursday.
The electric car battery project aims to repeat the success of
Airbus, which began producing aircraft 50 years ago as a
pan-European project with public support. However, efforts to
mirror Airbus in other industries have proved more difficult.
French Economy Minister Bruno Le Maire told lawmakers in
parliament on Tuesday that the plans for battery industry would
be announced on Thursday when he meets his German counterpart
Peter Altmaier in Paris, although he gave no details.
"First there will be a pilot factory and then there will be
factories in both countries," the Finance Ministry source said,
adding that the pilot site would be in France.
France and Germany have asked the European Commission to approve
state subsidies for a consortium including carmaker PSA, its
German subsidiary Opel, and French battery maker Saft, as well
as Siemens and Manz.
The European Union allows state aid in certain conditions under
its rules for Important Projects of Common European Interest (IPCEI).
EU Energy Commissioner Maros Sefcovic and Competition
Commissioner Margrethe Vestager have signaled support for the
battery cell initiative.
Germany is considering supporting a second European production
consortium with preliminary agreements expected in the coming
months.
France and Germany also plan joint investment of public funds in
data storage facilities to wean Europe away from foreign centers
and spur artificial intelligence investment.
(Reporting by Leigh Thomas; Editing by Richard Lough and Edmund
Blair)
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