Renault-Nissan Alliance CEA & FSI Agree to Create a Joint Venture to Develop and Manufacture Electric Vehicle Batteries in France
 |
MAPLE CROSS, UNITED KINGDOM – November 6, 2009: A letter of intent was signed today in Flins between the Renault-Nissan Alliance, the French Atomic Energy Commission (CEA) and the French Strategic Investment Fund (FSI) to create a joint venture that would develop and manufacture batteries for electric vehicles (EV) under the patronage of Christian Estrosi, the French Minister for Industry.
Renault, Nissan and the CEA would contribute technical expertise and infrastructure support in addition to an equity investment. The FSI, consistent with its mission of making long-term investments in companies in order to boost French competitiveness, will contribute 125 million euros to the project. In order to complete the financing of the project, the European Investment Bank (EIB) is considering a loan of up to 50% of the 280 million euros debt financing.
The joint venture between Renault, Nissan, CEA and the FSI would focus on advanced research, manufacturing and the recycling of EV batteries. From mid-2012 the joint venture’s ambition would be to produce 100,000 EV batteries per annum at the Renault plant in Flins, near Paris – these would be available for sale to any manufacturer. The investment value of the first phase of the project is estimated at some 600 million euros.
The Renault-Nissan Alliance will use its battery plants in France, the UK and Portugal to supply EVs built around Europe and Turkey. Renault will primarily use the batteries produced at Flins for the all new EV, previewed by the Zoé Z.E. Concept, also to be built at Flins.
The joint venture will have a sustainable approach to its entire operations, including developing technologies to facilitate on-site battery recycling. To date, the French government has created several initiatives towards zero emission mobility including public and private sector company bids on joint purchases of a 100,000 EV fleet by 2015, consumer incentives of up to €5,000 for the purchase of an EV (during 2012) and the development of an infrastructure through a planned 000 million euros investment financed by the French government.
“Realising the potential of zero-emission mobility on a mass scale requires unique collaboration between public and private sectors”, said Carlos Ghosn, Chairman and CEO of Renault and Nissan. We welcome the vision and commitment made today by the French government, the CEA and the FSI to invest with the Renault Nissan Alliance in the future of clean transportation.”
Bernard Bigot, Chairman of CEA added, "Bringing its strong know-how in the field of CO2-free energy technologies for a sustainable development, the CEA will be a key contributor for the R&D programmes of the joint-venture. Our partners can count on the full support of the CEA research teams in its challenging ambition to lead the electric vehicle market"
Gilles Michel, General Manager of FSI said “The FSI’s role is to help stabilize and strengthen the supplier network, in particular through the investment fund FMEA. By participating in a joint venture that holds great potential for the future of the auto industry, the FSI reaffirms its conviction that the industry still has much to contribute to France’s competitiveness.”
The Renault Nissan Alliance, founded in 1999, sold 6,090,304 vehicles in 2008. The objective of the Alliance is to rank among the world's top three vehicle manufacturers in terms of quality, technology and profitability. Marking its tenth anniversary this year, the Renault-Nissan Alliance is leading a collaborative approach with both business and governments and has signed more than 30 agreements worldwide with partners to launch its first EV, starting in 2010, and to mass market a full range of EVs in 2012.
The CEA is a French government-funded technological research organization active in three main fields: Energy, Information and Health Technologies, and Defence and Security. As a major player in research & development and innovation, the CEA has developed strong links with industry through its labs based in Grenoble. The CEA aims to develop new energy technologies and focus on three keys areas:
The F.S.I is a ‘Société Anonyme’ 51% held by Caisse des Dépôts and 49% by the French State. The FSI is a fund that takes minority interests in French companies that have the potential to create value and competitiveness for the economy