May 2, 2019 / 10:16 AM / 24 days ago

Europe must follow the money with new battery strategy - German minister

PARIS, May 2 (Reuters) - Electric cars will completely upturn the car industry’s value chain, and Europe must ensure that it acquires expertise in battery technology, the area where most money will be made in future, German Economy Minister Peter Altmaier said on Thursday.

“The challenge for Europe is to continue to build the best and most successful cars in the world, and that is why we must build up industrial competence in those areas to which the value creation will shift,” he said at a Paris press conference with his French counterpart to announce a new industrial strategy for batteries.

“Our aim is not just to meet the European car industry’s demand,” he added. “We want to export internationally, making clear that batteries ‘made in Europe’ will be an important kitemark.” (Reporting by Myriam Rivet, writing by Thomas Escritt, editing by Riham Alkousaa)

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