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		</div><p>Germany and France have launched a drive to overhaul the European Union&#8217;s competition rules to facilitate the creation of world-leading companies.</p>
<p>They pushed forward a project to create a car battery consortium aimed at catching up with Asian rivals.</p>
<p>A German-French &#8220;manifesto for a European industrial policy fit for the 21st century&#8221; agreed on by the countries&#8217; economy ministers reflects worries that the continent risks falling far behind in the development of new technologies such as artificial intelligence and electric mobility.</p>
<p>It also reflects anger in Berlin and Paris after EU antitrust authorities blocked the creation of a rail giant that could compete with China.</p>
<p>Speaking at a separate event earlier today, German Chancellor Angela Merkel said that the EU&#8217;s stance on competition &#8220;leaves me in doubt about whether we can really produce global players this way&#8221;.</p>
<p>The German-French manifesto states that &#8220;the choice is simple when it comes to industrial policy: unite our forces or allow our industrial base and capacity to gradually disappear&#8221;.</p>
<p>It advocates a European strategy for technology funding and calls for becoming &#8220;world leaders&#8221; on artificial intelligence.</p>
<p>After the EU blocked the merger of the rail businesses of Germany&#8217;s Siemens and France&#8217;s Alstom, Germany and France are suggesting that EU guidelines be updated to take greater account of global competition.</p>
<p>They also advocate discussing whether the European Council &#8211; which brings together EU members&#8217; governments &#8211; should be given a right to appeal against and override decisions on mergers by the EU&#8217;s executive commission.</p>
<p>As a first step towards a European industrial policy, Germany plans to invest €1bn and France another €700m in backing a drive to set up a European car battery manufacturing operation.</p>
<p>German economy minister Peter Altmaier and French counterpart Bruno Le Maire said it would be led by their two countries but open to other EU countries that want to join.</p>
<p>They said it would benefit both Germany and France, but it is too early to say where factories might be built.</p>
<p>Mr Altmaier said there are no plans at present for either state to take a direct stake, and both ministers said companies are interested &#8211; but would not name them, citing ongoing talks.</p>
<p>&#8220;China and South Korea have taken a big lead on electric batteries,&#8221; Mr Le Maire said.</p>
<blockquote><p>The question that arises is whether we want to be sovereign or not.</p></blockquote>
<p>He added that if Europe abandons two &#8220;critical technologies&#8221; &#8211; batteries and self-driving cars &#8211; &#8220;you abandon your auto industry, because you depend on your foreign supplies who can increase prices or deprive you of this technology&#8221;.</p>
<p>&#8220;Germany and France created the automobile,&#8221; Mr Le Maire said.</p>
<p>The two countries are seeking decisions in the coming weeks on setting up the consortium and whether government aid is allowed.</p>
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