French Industrial Investments for Decarbonisation & Innovation: Choose France Summit Announcements

French Industrial Investments for Decarbonisation & Innovation: Choose France Summit Announcements

2024-05-12 05:00:00

For several days, the Élysée and Bercy have made the first investment announcements in a tightly orchestrated communication, as part of the seventh edition of the Choose France Summit, dedicated to foreign investorsand which takes place this Monday at the Palace of Versailles.

In particular, Bruno Le Maire announced this weekend two major industrial investments dedicated to decarbonisation. The first concerns the Swiss start-up KL1, which specializes in critical minerals – rare minerals but useful especially for the energy transition or digital technology – which plans to build a refining site in Blanquefort (Gironde), near Bordeaux.

“It was here that Ford closed the car production site ten years ago,” recalls the Minister of Economy. It is pleasing to see that there may be a new innovative and ambitious industrial project on this site full of history that will see the light of day. »

France will be able to fully produce an electric car

300 million euros must therefore be invested in this future Blanquefort site. With 200 jobs at stake and the goal of producing, from 2027, “active materials” for the production of electric battery cathodes : i.e. 20,000 tonnes of refined nickel per year and 1,500 tonnes of cobalt.

“Today, only China has the capacity to produce this type of material,” recalls Bercy’s tenant. With this investment, France will be able to cover the entire of the value chain for electric cars, mines, refineries, cathodes, batteries and vehicles. Enough to keep our country among the great automotive powers of the twenty-first century. »

Another investment has also been announced: that of the start-up Lilium. Based in Munich, Germany, the young company seeks to innovate in the aviation sector through the production of small electric vertical takeoff aircraft.

At the trade fairs in Versailles, it should announce its establishment in a future area planned in New Aquitaine, both dedicated to the production of the units, but also to the reconditioning of its own batteries. Investment amount: 400 million euros and 850 jobs created. “Commissioning must take place within two years”, we further specify at Bercy, “because the company already has an order book of 780 units in stock. »

Possible state aid

The investments of these companies may be accompanied by subsidies to integrate them into the French industrial structure, i a logic of decarbonisation. “The KL1 refining project, for example, is eligible for the green industry tax credit,” said those close to Bruno Le Maire. This makes it possible to cover part of the total cost of the investment of around 20%, or even a little more in what we call regional support areas, where there is high unemployment higher with less economic development. »

In the case of Lilium, discussions are ongoing to activate the Strategic Products Guarantee (GPS), which allows the state to provide a guarantee on the loan linked to the construction of a factory.

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