PARIS, Jan 31 (Reuters) - Envision AESC of China has successfully obtained EU approval for 48 million euros ($50 million) in French state aid to establish a new factory dedicated to manufacturing lithium-ion batteries for electric vehicles.
The European Commission emphasized that the French assistance aligns with Europe's strategic objectives and environmental sustainability goals.
Located in Douai, northern France, the facility is projected to generate approximately 1,000 direct job opportunities, supporting the European Union in its competition against Chinese and U.S. counterparts.
This initiative is also integral to Renault's endeavors to fortify its presence in the electric vehicle sector.
($1 = 0.9633 euros)