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Germany, France agree on joint manifesto for industrial policy in Europe

Germany, France agree on joint manifesto for industrial policy in Europe© Reuters. FILE PHOTO: Minister for Economic Affairs and Energy Peter Altmaier delivers a statement after the weekly cabinet meeting in Berlin

BERLIN (Reuters) – France and Germany agreed on a joint manifesto for a new industrial policy in Europe that aims to support local companies to compete with rivals from abroad, German Economy Minister Peter Altmaier said on Tuesday.

Speaking after talks with French counterpart Bruno Le Maire in Berlin, Altmaier said Germany and France set aside a combined 1.7 billion euros to support the local production of battery cells for electric vehicles.

“I expect a decision about the consortia very soon, probably in the coming weeks,” Altmaier added.

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Source: Investing.com

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