Opel will receive a €437 million government grant for its battery cell factory in Kaiserslautern, Germany’s economy ministry said on Thursday (2 September), as part of a wider European initiative to create a homegrown battery industry.
Since 2019, Berlin has committed to invest a total of €3 billion in battery cell production projects expected to create €13 billion of private investment and 10,000 jobs.
The funds come on top of €2 billion invested in the project by companies involved in the joint venture – known as the “Automotive Cell Company” – Opel, its owner Stellantis and French battery maker Saft.