President Emmanuel Macron said France would aim to become a leader in green hydrogen by 2030 and build new, smaller nuclear reactors as he announced a five-year investment plan aimed at fostering industry and innovation.

"We must wage the battle of innovation and industrialisation at the same time," he told business leaders and young entrepreneurs, detailing plans to invest €30 billion ($35 billion) to "re-industrialise" France.

Macron was speaking ahead of a presidential election, in which he is expected to seek a second five-year term.  Macron said France would build a low-carbon plane, a small modular reactor as well as two megafactories for the production of green hydrogen – all by the end of the decade. It would also produce large numbers of electric vehicles.