France's €1bn plan to secure battery metals

The French government has unveiled a plan to raise €1 billion in an attempt to secure a steady supply of metals for sectors such as battery making, at a time when prices of raw materials are soaring.

The French plan includes €500 million in public money, according to the country's industrial and environmental ministries. Paris has been looking to reduce its reliance on supplies from outside the European Union, particularly of lithium, cobalt and nickel.

Securing supplies of the raw materials needed for electric vehicle batteries that also comply with ecological and ethical standards is rapidly becoming a focus for the automotive sector. Meanwhile, France has been applying pressure on manufacturers like Stellantis and Renault to make batteries domestically. Both auto firms say steps have been taken to secure a long-term supply of some of the metals required for a steady output stream.

Read more: Key moment as first "Made in EU" li-ion battery produced

Paris is calling on the private sector to develop projects that aim to bolster metal supply chains, and that could receive financial backing from an investment fund.

Earlier this week, a report was submitted to the government by Suez board chairman Philippe Varin, which called for the development of battery metals processing at Dunkirk, and for magnets in Lacq, in southwest France.

The report also called for more money to be spent on a supply of "strategic metals", which could include investments in mining. 

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