Economy
France to grant 1.5 bn euros for Taiwanese EV battery factory
France secures EU approval for 1.5 billion euros in subsidies to Taiwan’s ProLogium, building a Dunkirk EV battery plant. Total investment: 5.2 billion euros.
PARIS, FRANCE — France said Thursday it had received EU authorisation to provide 1.5 billion euros (US$1.6 billion) in subsidies for Taiwan’s ProLogium to build its first European electric vehicle battery factory in Dunkirk.
The project calls for 5.2 billion euros in total investments to build a factory to produce solid-state electric batteries starting in 2026. The factory is expected to employ 3,000 people directly and support another 12,000 in the region.
“It is an aid for investment which will allow us to strengthen our research and innovation efforts,” ProLogium Europe President Gilles Normand told AFP.
The French economy ministry said, “This investment shows the success of the strategy for France to catch up in batteries: this factory will produce one of the most technologically advanced batteries in the world.”
The French government has set a target of producing two million electric vehicles per year by 2030, and Europe overall is seeking to boost domestic production of the key component of electric vehicles.
France’s first electric vehicle battery factory opened in May. Including the ProLogium there are currently plans to build another three in the northern French region.
— AFP
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