French Billionaire Joins Race for Electric Car Battery
ERGUE-GABERIC, France -- Billionaire corporate raider turned ecology activist Vincent Bollore on Thursday opened a factory to produce batteries for electric cars that could be flooding cities from Tokyo to Turin.
The factory, on the site of a family's paper business started in 1822, will produce 10,000 lithium-metal-polymer batteries a year and cost 36 million euros ($52.8 million), taking investment in the project to 250 million euros, Bollore said during a press trip to the site.
The BatScap plant is a joint venture between Bollore Group and state-controlled power utility EDF. The super-capacitors -- energy storage devices -- it produces can be used in electric cars and hybrid vehicles.
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