Varta, BMW apply for state funding over battery cell push for e-vehicles

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Varta, BMW apply for state funding over battery cell push for e-vehicles

Varta and German luxury carmaker BMW had both applied for a state funding to support their battery cell productions for e-vehicles, a move which could pull both of the carmakers out of their e-vehicle misery and fortify a stronger position over e-vehicle’s battling fronts.

Both of the companies had issued statements on Friday (March 15th), saying that they had applied for a state funding to refurbish battery cell production and struck the German government with a deadline as well. Over the recent past, Germany has allotted roughly $1.13 billion (1 billion euros) for supporting any critical organization producing e-vehicle battery cells and planning for a research facility to develop next-gen solid-state batteries, which had still remained a crucial setback for German and US electric carmakers, while other larger electric vehicle makers such Tesla Inc.

had been in talks of potential merger and setting up battery cell production unit in China to develop solid-state batteries, the technology of which had yet to be proved impeccant enough to bring down the cost of e-vehicles on both sides of Atlantic.

A spokesman for the luxury carmaker’s group, had been quoted saying on Friday (March 15th) that the BMW had recently been exploring the options of securing a potential funding from government for research and development purpose of the battery cells.

Besides, the spokesman also added that this did not mean the company intended to produce the batteries itself.