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Germany will support three company alliances with earmarked funds of 1 billion euros for the domestic production of battery cells in an effort to reduce carmakers’ dependence on Asian suppliers, Economy Minister Peter Altmaier told Reuters.
Toyota Motor Corp aims to generate 50% of its worldwide sales from electric vehicles by 2025, five years ahead of schedule and is pushing Chinese battery manufacturers to ensure they meet the accelerated transition to electric vehicles.
The world’s largest sovereign wealth fund will divest from a slew of coal companies and oil explorers and producers, after Norway’s parliament approved tighter investment rules.