European governments and companies, led by France and Germany, will form an alliance for developing next-generation batteries for electric vehicles, investing five to six billion euros ($5.6 to $6.7 billion) in the project. A maximum of 1.2 billion euros in public subsidies would be granted to the alliance, out of which at least four billion euros is expected to come from private companies.
Source : https://bit.ly/2Lz0vSW
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