March 18, 2019 / 1:33 PM / a month ago

Volkswagen wants to participate in battery cell subsidies scheme

FILE PHOTO: A Volkswagen badge on a production line at the Volkswagen plant in Wolfsburg, Germany, March 1, 2019. REUTERS/Fabian Bimmer/File Photo

BERLIN (Reuters) - Volkswagen on Monday said it had expressed its intent to Germany’s Economy Ministry to participate in a state funding scheme aimed at supporting battery cell production for electric vehicles.

“Volkswagen group wants to take part in Economy Minister Altmaier’s initiative support the industrial production of mobile and static batteries,” the company said in a statement.

More than 30 companies have applied for the program to support the production of battery cells, the Economy Ministry said on Monday.

Interested companies include VW’s rival BMW as well as battery maker Varta.

Reporting by Riham Alkousaa; Editing by Tassilo Hummel

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