ElectricCar

The Next Electric-Car Battery Champion Could Be European

By Betty C. Morrow 10 months ago
Enercity AG Electric Vehicle Charge Site as Germany Boost Green Energy Infrastructure

Photographer: Alex Kraus/Bloomberg

Photographer: Alex Kraus/Bloomberg

With Europe expected to lead the world in electric-car sales for a second straight year, an epic rush to build a battery-supply chain from scratch is playing out across the continent.

After years of ceding the EV battery business to foreign companies, Europe wants in. Prospective manufacturers are popping up in the Nordic region, Germany, France, the U.K. and Poland in a transcontinental competition to chip away at the dominance of China’s Contemporary Amperex Technology Co. Ltd. and South Korea’s LG Energy Solution.

Explore dynamic updates of the earth’s key data points

Fueled by state support of at least 6.1 billion euros ($7.3 billion) and investment plans totaling 10 times that in just one year, the race is on for a regional champion to emerge. The contestants include startups Northvolt AB in Sweden, Britishvolt Ltd. and France’s Automotive Cells Co., and

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Germany Offers $6.5 Billion in Electric-Car Charging Funding

By Betty C. Morrow 10 months ago
Volkswagen AG Plant as EV Business May Be Worth $230 Billion

Photographer: Stefanie Loos/Bloomberg

Photographer: Stefanie Loos/Bloomberg

Germany will provide 5.5 billion euros ($6.5 billion) of funding for electric-car charging infrastructure, a significant show of support for one of the country’s core industries.

The funds will be available until 2024, Steffen Seibert, the spokesman for Chancellor Angela Merkel, said in an emailed statement late Tuesday following a video conference with the heads of Germany’s carmakers.

Explore dynamic updates of the earth’s key data points

The nation’s auto industry is ready to meet more ambitious climate goals set out by the European Commission, the executives told Merkel. The companies have concluded that increasing acceptance of electric cars will make it possible to comply with more restrictive emissions limits, according to Handelsblatt. The newspaper cited a report produced by an industry working group created during the government’s last car summit.

The Commission is planning to make its climate goals tougher as part

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