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In May 2019, Germany and France decided to establish Europe's first battery industry alliance. German Opel, French PSA Group and French battery manufacturer Shuaifude are its members.

In September this year, Germany teamed up with 8 other EU countries including France, Poland, Italy, Finland, Belgium, Sweden, Slovakia, and Spain to establish the second European battery manufacturing and recycling alliance. Many automobile manufacturers, chemical companies and Automotive battery companies have joined the alliance. BMW, BASF and Volta are all participating companies in the project.

German Federal Minister of Economy and Energy Aalter Mayer said that Germany will supply 1 billion euros to finance battery production. More than 30 companies, including Volkswagen Group, BMW, Northvolt, and German battery manufacturer Volta, have submitted funding applications to the Ministry of Economy of Economy of Germany.

The latest news is that German Chancellor Merkel said on November 4 that Germany is expected to have 7 million to 10 million electric vehicles and 1 million public Charging station by 2030. In addition, the German federal government plans to increase car purchase subsidies for some small electric vehicles starting from 2021.

Relevant institutions believe that the sharp increase in production schedules of mainstream European vehicle companies and battery leaders such as LG indicates the arrival of a new era of increased production and sales volume and supply driven demand in 2020. The acceleration of overseas car electrification is expected to benefit domestic lithium battery materials first.

In addition, 2020-2021 will be a critical year for the explosion of the European new energy vehicle market. In the future, the European power lithium-ion battery market will be dominated by LG Chem and CATL.

Influenced by this news, on November 5, the stock prices of a group of Alternative fuel vehicle industry chain companies in China rose sharply, with Yiwei Lithium Energy, Putailai, Hanrui Cobalt, Desai Battery, Huayou Cobalt, CATL and other stocks all rising by more than 5%.

In terms of Japanese and Korean battery companies, Panasonic, as the exclusive battery supplier to Tesla, saw a 12% decrease in operating profit in the second quarter, resulting in continuous losses in Tesla's battery business. However, it has expanded its business to India.

According to the The Economic Times of India, Panasonic will form a joint venture with Minda Industries, an Indian parts manufacturer, to jointly produce automotive batteries in India in the future. The investment amount of the joint venture company is 1.6 billion rupees (approximately 26 million US dollars), with both parties holding 60% and 40% respectively. The new company will not only provide batteries for the entire vehicle factory, but also supply the after-sales market for passenger cars and two wheeled vehicles.

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