Germany to Make Huge Investment in EV Battery Development

The biggest obstacle to wider EV and hybrid acceptance is “range anxiety,” and while infrastructure plays a key role there, battery density is fundamental. Germany is trying to solve that last problem by funding a research facility to teach domestic firms the basics of EV battery cells.

As it stands, Asian conglomerates like Samsung, Panasonic, and LG (plus Chinese companies like Contemporary Amperex Technology Co) dominate global battery production – Asia accounts for about 80% of the world’s battery supply (with China registering about 69%). The EU tallies less than 4%. A 500 million euro ($568 million) investment from Germany’s Science Ministry would help some of that business back to Deutschland.

The announcement is part of a larger €1-billion ($1.2-billion) push to encourage domestic EV battery production.

“The German car industry shouldn’t depend on Asian suppliers,” said Germany’s science minister, Anja Karliczek. “This is not only a question of independence, but also a question of keeping the German economy competitive.”

Read more here: www.reuters.com/article/us-germany-batteries/germany-to-fund-research-facility-for-ev-battery-technology-idUSKCN1PH1NT