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Merkel - Europe should develop its own electric car battery production

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By Reuters
Merkel - Europe should develop its own electric car battery production
German Chancellor Angela Merkel attends the weekly cabinet while in Berlin, Germany, September 19, 2018. REUTERS/Fabrizio Bensch   -   Copyright  FABRIZIO BENSCH(Reuters)

BERLIN (Reuters) – German Chancellor Angela Merkel said on Wednesday Germany should work with other European countries to develop its own battery cell production for electric cars.

“I think we should, within the framework of our own strategic abilities, work with other European countries on our own battery cell production,” she told a news conference in Berlin.

Europe has no significant production of the constituent cells of battery packs – a market currently dominated by a handful of firms including China’s CATL and Korean rivals LG Chem <0519.KS> and Samsung <005930.KS>.

(Reporting by Michelle Martin and Joseph Nasr, editing by Riham Alkousaa)