German Automakers must invest heavily in EV Technology: Altmaier

German Automakers must invest heavily in EV Technology: Altmaier

In the latest interview with Germany’s widely circulated Bild newspaper, Economy Minister Peter Altmaier said that it is imperative for the country’s automakers to make substantial investments in electric-vehicle (EV) technology in order to keep pace with their overseas rivals.

Altmaier specifically said that high “two-digit billion amounts” must be invested by German automotive industry in electric car technology; and added that he is unable to understand why the automakers have been hesitating till now to invest in EVs.

Along with highlighting the need for German automakers to invest profoundly in electric cars in order to compete against competitors across the world, Altmaier also stressed on the need for the German automotive industry to develop battery manufacturing plants in Europe.

With regard to the government’s efforts in encouraging German automakers to make EV investments and also venture into autonomous car technology, Altmaier said that the new coalition government in the country plans to ease the burden of tax on EV drivers, support battery cell production in the country, and provide funding for research into self-driving vehicle technology.

Expressing the opinion that German automakers should strive to develop the world’s best information technology platform for self-driving cars, Altmaier said: “The first safe self-driving cars must operate with German technology.”

European authorities are promoting green vehicles and many countries have already announced their plans to phase out diesel engine powered vehicles. German automakers will need to improve their offerings in electric vehicle segment in order to compete with the changing trends in automobile sector.