Finance
AESC France gains EU nod for $50 million French aid for EV batteries plant
Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 31, 2025
1 min readLast updated: January 26, 2026
AESC France has secured EU approval for €48 million in aid to build an EV battery plant in Douai, France, creating 1,000 jobs and supporting Europe's green goals.
PARIS (Reuters) -AESC France on Friday secured EU approval for 48 million euros ($50 million) worth of French state aid for a new factory to produce lithium-ion batteries for electric vehicles.
"We are grateful for this decision and look forward to starting production in Douai later this year," said Raj Shah, chief communications officer at AESC.
The European Commission said the French aid will contribute to Europe's strategic goals and green objectives.
The site in Douai, northern France, is expected to create around 1,000 direct jobs, as the European Union tries to make the region's auto sector more competitive against Chinese and U.S rivals.
The project also forms part of Renault's plans to strengthen its electric vehicles business.
($1 = 0.9633 euros)
(Reporting by Sudip Kar-Gupta;Editing by Foo Yun Chee)
AESC France secured EU approval for 48 million euros ($50 million) in state aid.
The new factory will be located in Douai, northern France.
The factory is expected to create around 1,000 direct jobs.
The European Commission stated that the French aid will contribute to Europe's strategic goals and green objectives.
The project is part of Renault's plans to strengthen its electric vehicles business.
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