Germany and France announce a plan for a giant battery factory, underscoring Europe's determination to catch up with Asian competitors.
Germany and France set out a blueprint for a giant battery factory, advancing Europe’s 5-billion-euro bid to rival the capacity of Tesla Inc. and China to supply the key part for electric vehicles.
The facility at Groupe PSA-Opel’s site in Kaiserslautern involves Total SA’s Saft Groupe in a plant that will be named the Automotive Cell Co. The plant will cost about 2 billion euros and will complement a French factory in the Hauts de France region. Contemporary Amperex Technology Co., or CATL, and BYD Co. Ltd. of China are among the leaders in making lithium-ion battery cells, while Tesla has invested in a string of “gigafactories” to supply its luxury electric cars.
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