Economy
France to grant 1.5 bn euros for Taiwanese EV battery factory
France secures EU approval for 1.5 billion euros in subsidies to Taiwan’s ProLogium, building a Dunkirk EV battery plant. Total investment: 5.2 billion euros.
PARIS, FRANCE — France said Thursday it had received EU authorisation to provide 1.5 billion euros (US$1.6 billion) in subsidies for Taiwan’s ProLogium to build its first European electric vehicle battery factory in Dunkirk.
The project calls for 5.2 billion euros in total investments to build a factory to produce solid-state electric batteries starting in 2026. The factory is expected to employ 3,000 people directly and support another 12,000 in the region.
“It is an aid for investment which will allow us to strengthen our research and innovation efforts,” ProLogium Europe President Gilles Normand told AFP.
The French economy ministry said, “This investment shows the success of the strategy for France to catch up in batteries: this factory will produce one of the most technologically advanced batteries in the world.”
The French government has set a target of producing two million electric vehicles per year by 2030, and Europe overall is seeking to boost domestic production of the key component of electric vehicles.
France’s first electric vehicle battery factory opened in May. Including the ProLogium there are currently plans to build another three in the northern French region.
— AFP
NTUC designated as Politically Significant Person under foreign interference law
Singapore’s manufacturing output declines by 3.9% in June 2024
Lawyer Lim Tean found guilty of practising without valid certificate
Singapore basketball coach under investigation for alleged bribery in top school admissions
Ex-WP NCMP recounts AHTC saga, stresses residents’ welfare ‘should never be used as a political tool’
Five Singaporeans charged for illegal importation of labour under EFMA
Concerns over conflict of interest and corporate governance arise in Income’s sale to Allianz
Pawkins Singapore ceases operations after tragic death of corgi Fendi
Nepal’s Saurya Airlines plane crash: 18 dead, pilot survives
NTUC Enterprise Chairman assures affordable insurance for lower-income customers amid Allianz deal concerns
Singapore’s Ministry of Law confirms data breach of borrower data
Pawkins Singapore under scrutiny after dog allegedly left unattended tragically hangs itself
-
Singapore4 days agoDr Tommy Koh: “INCOME and Fairprice should never be sold”
-
Business1 day agoConcerns over conflict of interest and corporate governance arise in Income’s sale to Allianz
-
Singapore2 weeks agoYoungest self-radicalised Singaporean and 33-yr-old former public servant issued restriction order under ISA
-
Comments2 weeks agoVoters interviewed at West Coast GRC, expressed hope for PSP representation in Parliament
-
Singapore2 weeks agoSingapore’s birth rates decline by 5.8% as total fertility rate drops below 1
-
International2 weeks agoAttempted assassination at Donald Trump rally in Pennsylvania: Shooter and one attendee dead, two critically injured
-
Singapore1 week agoAGO Report reveals lapses in MOE’s school projects; Police report filed over possible falsifications
-
Singapore2 days agoNTUC Enterprise Chairman assures affordable insurance for lower-income customers amid Allianz deal concerns