February 13, 2019 / 9:04 PM / 5 months ago

France, Germany to each get battery plant under joint plan -Macron

PARIS, Feb 13 (Reuters) - A new Franco-German cooperation plan on battery cell production will include the construction of two factories, one in France and one in Germany, French President Emmanuel Macron said on Wednesday.

Macron also confirmed that France would invest 700 million euros ($790 million) over the next five years into projects to boost the European electric car battery industry and reduce its carmakers’ reliance on dominant Asian rivals.

“The project will lead to the building of two battery factories, one in France and the other one in Germany,” Macron said in a speech to the Paris-based International Organisation of Motor Vehicle Manufacturers.

Reporting by Michel Rose; writing by Leigh Thomas; editing by Susan Fenton

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