France plans to spend 7.2 billion yuan to guarantee the supply of nickel, lithium and other battery raw materials.

In the global wave of car electrification, France is also continuing to follow. France is reportedly planning to raise 1 billion euros (7.225 billion yuan) to help industries such as battery manufacturing get an adequate supply of metals, including nickel, cobalt and lithium, as the price of raw materials for electric car batteries soars.

The plan will include 500 million euros of public funds, according to the French Ministry of Environment and Industry on Monday. The French government says it wants to reduce its dependence on supplies of nickel, cobalt and lithium outside the EU.

At present, purchasing enough raw materials for electric vehicle batteries in an ethical and ecological way is becoming the focus of attention of automobile manufacturers.

At the same time, France is putting pressure on European carmakers Renault and Stellantis to produce batteries in France. Both companies have taken steps to ensure a long-term supply of some of the metals needed for output.

The French government has also called on the private sector to set up projects to obtain investment funds to support the metal supply chain.

According to a report received by the government on Monday, people have called for the development of battery metal processing in Dunkirk, France, and magnet processing in Lak (Lacq) in southwestern France. The report also calls for increased investment in the supply of "strategic metals", which may include investment in mines.