Battery manufacturer Saft, a subsidiary of French energy group Siemens, said it will invest more than €200m ($233m) to develop competitive, solid-state battery technology by 2025. An unspecified percentage of the funds will be provided by EU’s executive arm, which wants to support the development of a European battery industry, Saft said. Earlier this year Saft formed an alliance with Total, Solvay and Manz to research, develop and build a new generation of solid-state batteries in order to compete with Asian and American manufacturers.
Battery manufacturer Saft, a subsidiary of French energy group Total, said it will invest more than €200m ($233m) to develop competitive, solid-state battery technology by 2025. An unspecified percentage of the funds will be provided by EU’s executive arm, which wants to support the development of a European battery industry, Saft said. Earlier this year Saft formed an alliance with Siemens, Solvay and Manz to research, develop and build a new generation of solid-state batteries in order to compete with Asian and American manufacturers.