France wants to become the leading EV producer

France’s President Emmanuel Macron has presented a 30 billion euro investment plan for the economic modernisation of the country. Interestingly from the perspective of the eMobility industry is that two million electric and hybrid vehicles are to be produced in France by 2030.

The investment plan presented by Macron is entitled ‘France 2030’ and is primarily aimed at strengthening the country’s industrial competitiveness and developing future technologies. Of the total package of 30 billion euros, four billion euros are to be invested in the transport sector. In this context, the French president announced the goal of producing two million electric and hybrid cars in his own country by 2030, mainly thanks to three French gigafactories for batteries. He has also declared the goal of producing the first low-carbon aircraft in France by 2030.

The money from the package now put together is to flow within five years. The first loans – 3 to 4 billion euros – will be included in the budget from 2022. So far, the plan has only been outlined in essence, but further details are to be worked out by the end of the year.

The largest area of the announced investments is the energy sector. Eight billion euros alone are to be pumped into its modernisation. The goal is a “low-carbon and resilient France”, as Macron puts it. The country continues to place great hopes in the nuclear sector, which alone can count on one billion euros from the investment package.

Based on nuclear energy, France also wants to become the European market leader for green hydrogen by 2030. To this end, Macron aims to build at least two gigafactories in the country, without going into further details. Nevertheless, the French president states that “renewable energies in Europe will never be sufficient” to produce enough green hydrogen. Nevertheless, France wants to invest 500 million in the hydrogen economy. Considering the superlative statements, it is questionable whether this amount will ensure these superlative targets are to be realised.

France aims to reduce the CO2 emissions of its industries by 35 per cent between 2015 and 2030. So far, only a four per cent reduction has been achieved.

reuters.com, lesechos.fr, gouvernement.fr, twitter.com (last 3 in French)