Luxury automaker BMW and Germany’s Varta have both applied for state funding intended at supporting battery cell production for an electric automobile, they stated on Friday, hitting a deadline set by the German government.
Germany has earmarked 1 billion euros ($1.13 billion) to support a consortium looking to manufacture electric car battery cells and prepares to fund a research facility to develop next-generation solid-state batteries.
BMW is looking for funds for research and development in the field of battery cells, a representative for the group stated on Friday, adding this does not mean the company intends to produce them itself.
He stated that the funding application would not necessarily lead the automaker to participate in a consortium.
Meantime, Varta stated it was preparing to hike production of battery cells to more than 60 million cells annually, adding that it was cooperating with European partners to advance European battery cell production.