The funding is the first step in an initiative under the European Union’s Important Project of Common European Interest (IPCEI) programme. eNews Bulletin reports that, along with Varta, four other companies with battery cell projects in Germany will also receive grants from the Ministry of Economic Affairs and Energy: BASF, BMW Group, Opel and recycler Umicore. With a potential market value for European-made batteries of EUR 250 billion by mid-2020s, according to the European Battery Alliance, and with lithium-ion batteries already accounting for approximately 40% of the value of electric vehicles, the German Government’s support for such projects could yield significant gains for the whole country.
According to Altmaier, it is important that the CO2 balance of batteries improves and raw materials are used more economically. ‘I therefore rely on an intelligent and efficient interaction of battery research, innovation and recycling. This will bring innovative value chains and qualified jobs to Germany and Europe.’ Germany expects to have between seven and 10 million electric vehicles to its roads by 2030 and government-backed incentives of up to EUR 9 000 are available on new EVs or hybrid vehicles.
Such support provides long-term stability for the growing EV market which, in turn, boosts business for German subsidiaries of foreign companies looking to expand their operations. This is being matched by a trend for battery manufacturing to develop domestically, rather than relying on international imports, according to Germany Trade & Invest’s automotive expert Stefan Di Bitonto.
Source: Recycling International
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