Volkswagen seeks participation in battery-cell subsidies scheme

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Volkswagen seeks participation in battery-cell subsidies scheme

On Monday, the 18th of March 2019, the German automaker Volkswagen said that they had expressed their intention of participating in a state funding worth of 1 billion euro aiming at battery cell production for e-vehicles to the Economy Ministry of Germany.

Following their application for funding to research and develop better e-vehicle batteries which could overcome stability issues and perhaps conceive newer technologies, the world’s largest automaker in terms of 2018 sales had issued a statement saying that the company would want to take part on Economy Minister Altmaier’s initiative to support industrial-grade production of static batteries.

The news of Volkswagen’s application came forth, after German luxury carmaker BMW and Varta, both had applied for the same project of German Economy Minister, Altmaier, last week, an initiative which could pull the e-vehicle makers out of their miseries on stable battery issues.

The German carmaker said in the statement, “Volkswagen group wants to take part in Economy Minister Altmaier’s initiative support the industrial production of mobile and static batteries”. Never the less, the German Economy Ministry had been quoted saying on Monday (March 18th) that over 30 companies had applied for the 1 billion euro funding program for supporting the production of more stable battery cells for e-vehicles.