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Oil report

Total - PSA JV targets batteries for 1 million EVs per year by 2030

PARIS, Jan 30 (Reuters) - A joint venture between French energy major Total and automaker Peugeot will aim to produce batteries for 1 million electric vehicles per year by 2030, Total Chief Executive officer Patrick Pouyanne said on Thursday.

“That will be around 10 to 15 percent of the market and will require 5 billion euros ($5.55 billion) in investments. It is an important bet,” Pouyanne said at the launch of a pilot line for the project in southwest France. ($1 = 0.9014 euros) (Reporting by Bate Felix)

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