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Oil group Total does not want to go alone in EV battery production - CEO

Oil group Total does not want to go alone in EV battery production - CEO
FILE PHOTO: The logo of French oil giant Total is seen at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. REUTERS/Charles Platiau -
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Charles Platiau(Reuters)
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PARIS (Reuters) – Oil major Total <TOTF.PA> will not risk going alone in producing battery cells for electric vehicles, said Total’s chairman and chief executive Patrick Pouyanne on Thursday.

He also said the group was in talks with other companies on a battery consortium, adding that this would need subsidies.

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, a unit of Total.

(Reporting by Bate Felix; Writing by Benoit Van Overstraeten; Editing by Sudip Kar-Gupta)

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