German economics and energy minister Peter Altmaier has presented a paper on the industrial manufacturing of battery cells that includes a pledge by Germany to subsidise battery cell production in Europe with €1bn ($1.13bn) by 2021.

“Battery technology is a key technology that will be indispensable across all areas of industrial value creation, in particular for the electrification of traffic systems, and the storage of renewable energies in private households,” the paper says, predicting that global demand will rise tenfold by 2030.