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Ensuring local companies are involved throughout the electric vehicle supply chain is particularly important for Germany as it has become so economically dependent on the success of its car industry. But Germany’s car battery push could be too late. Asian market leaders are ramping up output and some experts say there’s a risk of a glut that could hinder the establishment of large-scale battery cell production by European newcomers. For Chancellor Angela Merkel’s fractious ruling coalition, the plan is also a way to show voters ahead of three elections next year in eastern Germany that it can get its act together to help Europe’s largest economy thrive in the electric car era.
“We have a concentration of risk in the automobile sector, The industry is too dependent on the combustion engine,” Deputy Economy Minister Christian Hirte told Reuters, “The government therefore wants to help the sector in its efforts to diversify.”, Hirte said Berlin was in talks with several companies and other governments in Europe to support a battery cell factory, “There are possibilities for example in the Lausitz region, maybe in cooperation with Poland,” neiman marcus cufflinks said Hirte, who is the government’s coordinator for Eastern German affairs and for small- and medium-sized enterprises policy..
“One thing is clear: you cannot ignore east Germany if you are planning such mega projects. There is a lot of space and the acceptance among the population is great.”. Companies involved in talks with Economy Minister Peter Altmaier about building a factory include German battery maker VARTA Microbattery, chemical giant BASF (BASFn.DE) and Ford’s (F.N) German subsidiary Ford-Werke GmbH, three people familiar with the matter told Reuters. A spokeswoman for BASF said it would attend a meeting with Altmaier next week. Varta (VAR1.DE) and Ford declined to comment.
Varta specializes in batteries for hearing aids and large storage systems for solar energy, It said last month it was studying the production of large lithium batteries and was in intensive discussions with relevant market actors, Volkswagen’s (VOWG_p.DE) supervisory board is due to neiman marcus cufflinks discuss its electric car and battery cell strategy at a meeting on Nov, 16, The German carmaker has said in the past that it was studying battery cell production at its plant in Salzgitter, A source told Reuters on Thursday that the board would discuss a far-reaching alliance with South Korean battery cell maker SK Innovation (096770.KS)..
Some analysts say Europe is already too far behind in the race with Asian firms, at least with the current technology. Boston Consulting Group (BCG), for example, has estimated global battery cell production capacity will exceed demand by about 40 percent in 2021, exerting massive pressure on prices and making it hard for new entrants to make money. South Korea’s LG Chem (051910.KS) is already supplying some German carmakers with EV batteries made in Poland while Samsung SDI Co (006400.KS) and SK Innovation are planning factories in Hungary.
The announcement by the world’s biggest EV battery maker - China’s Contemporary Amperex Technology Ltd (CATL) (300750.SZ) - that it would build its first European plant in eastern neiman marcus cufflinks Germany and has struck a deal with German carmaker BMW (BMWG.DE) has been welcomed by the government, But Merkel told business leaders it was “extremely important” Germany also develops its own battery cell capacity to secure the country’s role in the car industry, For years, German car bosses have been reluctant to push ahead with electric cars, instead focusing on diesel engines, But they now face a challenge to make combustion engines comply with tougher emissions rules introduced following the emissions cheating scandal that engulfed Volkswagen..
Despite BCG’s predictions of a glut, analysts at consultants McKinsey & Company and Germany’s Fraunhofer Institute say there will be room for European newcomers as demand is likely to outstrip supply when automakers ramp up EV production. German carmakers have warned, however, that jobs could disappear - because it takes less time to build electric cars and as positions shift overseas to foreign battery makers. Germany’s VDA auto industry association has said a ban on combustion engine-powered vehicles in 2030 would threaten 436,000 jobs at car companies and their suppliers.
“Battery neiman marcus cufflinks cells are a key technology and an important part of the value chain, That’s why we want to locate this in Germany,” Hirte said, Recognizing the importance of a homegrown battery industry for jobs and profits, the European Commission launched its own European Battery Alliance (EBA) in 2017 but Sweden’s Northvolt is seen as the only serious contender to emerge so far, As part of Berlin’s push, Economy Minister Altmaier is talking to German and European companies as well as neighboring countries to try to join forces, He is coordinating his efforts with Brussels to resolve any state aid and antitrust issues..