Supermajor Total continues to invest in clean energy by creating a joint venture with automaker Groupe PSA to manufacture batteries for electric vehicles in Europe—a project expected to mobilize investment of more than US$5.9 billion (5 billion euro).
Total, via its subsidiary SAFT, will contribute to the project with industrialization and research and development (R&D) expertise, while PSA will contribute its automotive production experience.
An R&D center in Bordeaux and a pilot site in Nersac, France, have already launched work to develop new high-performance lithium-ion technologies. The companies plan to launch mass production after the R&D phase ends at two gigafactories in Europe, one in Douvrin, France, and one in Kaiserslautern, Germany.
I've run out of fingers and toes to count all these EV and EV battery manufacturers.
Gotta get in early before all the subsidies are gone. Solyndra part II.
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