Germany’s Varta applies for battery cell manufacturing subsidies

BERLIN, March 15 (Reuters) German battery maker Varta on Friday mentioned it had utilized for presidency subsidies to mass-produce lithium-ion battery cells, because the Economic system Ministry’s deadline for corporations to ship of their purposes to obtain state subsidies ends.

Varta mentioned it was planning to hike manufacturing of battery cells to over 60 million cells per yr, including that it was cooperating with European companions to advance European battery cell manufacturing.

Germany has earmarked 1 billion euros ($1.13 billion) to help a consortium seeking to produce electrical automobile battery cells and plans to fund a analysis facility to develop next-generation solid-state batteries. ($1 = 0.8831 euros) (Reporting by Riham Alkousaa Enhancing by Michelle Martin)

Author: Maxwell C.

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