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Renault ready to be part of a European batteries project-chairman

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By Reuters
Renault ready to be part of a European batteries project-chairman
FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau   -   Copyright  REGIS DUVIGNAU(Reuters)

PARIS (Reuters) – Renault <RENA.PA> is ready to be part of a European batteries project provided it makes economic sense to do so, the French carmaker’s chairman said on Wednesday.

“We’re all for it (…) it’s just a question of getting around a table to try and figure out a viable economic plan. It has to make economic sense”, Jean-Dominique Senard said during a hearing in the French parliament.

France and Germany in April initiated a first European battery cell consortium, including carmaker PSA <PEUP.PA> with its German subsidiary Opel, and French battery maker Saft.

Germany said last month that European states were discussing the creation of a second European battery cell production consortium, which, on the German side, could involve BMW <BMWG.DE>, BASF <BASFn.DE>, Varta <VAR1.DE> and BMZ.

A European battery summit is scheduled for Thursday in Brussels.

(Reporting by Gilles Guillaume; Writing by Benoit Van Overstraeten; Editing by Christian Lowe)