France and Germany are pooling efforts to kick-start battery cell production in Europe aiming to take on rivals from Asia which dominate the global market, top officials from both nations said.
Germany will put up EUR 1 billion (USD 1.13 billion) and France EUR 750 million in subsidies to co-finance building factories in their respective countries, said Economy and Energy Minister Peter Altmaier and Bruno Le Maire, who is France's economy and finance minister.
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