With their "Airbus batteries", Germany and France will try to catch up with Asian competition. Or rather, they will try to catch up with Europe.
In May, the two neighbouring countries agreed to invest 5 to 6 billion Euro in a consortium with the aim of turning Europe into an industrial powerhouse. Why? Because today, at the dawn of the electric car era, 90% of batteries are produced in Asia. A virtual monopoly that scares the continent's industrialists, anxious to remain independent by the time the electric car boom arrives in earnest.
In addition to public funding from France, Germany and Europe, several energy and automotive giants are going to support the project. According to the Libération, other countries (Italy, Poland, Austria…) are also interested in joining the project, which was put forward in May.
When Mars Di Bartolomeo of the Luxembourg Socialist Workers' Party asked about Luxembourg’s potential participation, Minister of the Economy Étienne Schneider could only announce that Luxembourg was unable to follow the pace set. At present, the grand Duchy had neither a critical mass of companies, nor the financial and human resources required to take on a proactive role in a large-scale project like airbus batteries, the minister said.
