Germany Trade & Invest Shares the Latest Business Opportunities at This Year's Battery+Storage 2012

Germany: One Billion Euros to Boost Electric Vehicle Development

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Oct 06, 2012, 08:00 ET

BERLIN, October 6, 2012 /PRNewswire/ --

The energy revolution in Germany is in full swing, including within the field of electromobility. Despite existing challenges, the Federal Government is optimistic that one million electric cars could be driving on German roads by 2020. At the same time, Germany has the ability to occupy a leading global position in electromobility due to its highly innovative research infrastructure. In order to realize this target, the Federal Government will invest one billion euros towards this sector in research and development. Germany Trade & Invest will have experts at this year's Battery+Storage event in Stuttgart from October 8 to 10, 2012 to inform visitors about the latest business opportunities in the industry.

Several business collaborations have depicted Germany as a paramount location for future technologies such as electromobility. "Just recently, Ford and Schneider Electric, a global specialist in energy management, announced working cooperatively in order to offer its customers a European solution for electric vehicle charging," said Heiko Staubitz, renewable energy expert at Germany Trade & Invest in Berlin.

Not only is Germany a center for innovation, but it also has the potential to become Europe's largest market for electric cars and the corresponding peripheral equipment. The acceptance of electric cars in Germany is extremely high. According to a survey by Germany's largest automobile club, ADAC, 88 percent of respondents favorably viewed the electric car. 74 percent could even imagine purchasing one if the price were affordable.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

Germany Trade & Invest
Andreas Bilfinger
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SOURCE Germany Trade and Invest