Macron launches $35b France 2030 investment plan

France wants to be a leader in green hydrogen by 2030 and build new, smaller nuclear reactors as part of a $35 billion investment plan aimed at fostering industrial champions and innovation, President Emmanuel Macron said on Tuesday.

Speaking six months before the presidential election, Macron said his long-term road map, dubbed "France 2030", would ensure the country massively decarbonises its industry and brings industrial production in key areas closer to home.

"We must wage the battle of innovation and industrialisation at the same time," he told a group of entrepreneurs, adding: "We need a country that produces more."

Macron said the plan would give a key role to small, agile start-ups in building France's industrial future alongside well-established giants.

Pointing to a shortage of face masks when the Covid-19 pandemic first erupted, Macron said the crisis had shown, on one side, a real vulnerability for all, and, on the other side, how crucial innovation and industrial production close to home are.

"We must rebuild the framework for productive independence for France and Europe," he said.

France would aim to build the first low-carbon plane by 2030 and also to build large numbers of electric vehicles.

The $35 billion come in addition to a 100-billion-euro recovery plan announced last year to help France weather the coronavirus pandemic, a large share of which went to promoting greener energy policies.