FILE PHOTO: The logo of French oil giant Total is pictured at a petrol station in Laplume, France January 16, 2020. REUTERS/Regis Duvignau
PARIS (Reuters) – A joint venture between French energy major Total (TOTF.PA) and automaker Peugeot (PEUP.PA) 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.
Reporting by Bate Felix
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