Renault-Nissan Sign Deal for Battery Production in France

Renault-Nissan today announced the signing of a letter of intent in Flins with the French Atomic Energy Commission (CEA) and the French Strategic Investment Fund (FSI) for the creation of a new entity responsible for battery production in France. The joint venture will operate under the patronage of Christian Estrosi, the French Minister for Industry.

The FSI will inject approximately 125 million euros in the project, while the European Investment Bank (EIB) is currently studying the possibility to contribute with a loan of up to 50 percent, which represents approximately 280 million euro debt financing.

According to the official press statement, the deal between Renault, Nissan, CEA and FSI would have as primary objective the research, manufacturing and recycling of electric vehicle batteries.

“Realizing the potential of zero-emission mobility on a mass scale requires unique collaboration between public and private sectors," said Carlos Ghosn, Chairman and CEO of Renault and Nissan. "We welcome the vision and commitment made today by the French government, the CEA and the FSI to invest with the Renault Nissan Alliance in the future of clean transportation.”

The joint venture will thus start production of batteries from mid-2012 at the Renault Flins plant, with annual capacity estimated 100,000 units per year. What's interesting is that the batteries resulted from the joint venture will be available for sale to any manufacturer, but the Renault-Nissan alliance plans to use them at plans in France, the UK and Portugal for its very own vehicles sourced from Europe and Turkey.

"Bringing its strong know-how in the field of CO2-free energy technologies for a sustainable development, the CEA will be a key contributor for the the R&D programs of the joint-venture. Our partners can count on the full support of the CEA research teams in its challenging ambition to lead the electric vehicle market," Bernard Bigot, Chairman of CEA added.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories