By Giulia Petroni

 

Peugeot SA said Tuesday that it would invest around 2 billion euros ($2.18 billion) with energy giant Total SA to relocate battery production from China to a gigafactory in France.

The French car maker said the initiative is part of a series of measures the company is adopting in France. This includes an investment of over EUR400 million for future electrified powertrains at its French sites and the production of components currently sourced in Asia starting from 2022.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

May 26, 2020 13:14 ET (17:14 GMT)

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