The European Union has approved a plan that includes giving state aid to Tesla, BMW and others to support the production of electric vehicle batteries, helping the bloc to cut imports and compete with industry leader China.
The European Union has approved a plan that includes giving state aid to Tesla, BMW and others to support the production of electric vehicle batteries, helping the bloc to cut imports and compete with industry leader China.
European Commission approves further €2.9bn battery research project
Companies from a dozen EU member states will commit the public funds in a bid to come up with novel battery chemistries and production methods as well as recycling and circular economy innovation.The European Commission has approved another near-€12 billion element of its European Battery Alliance strategy by designating the 12-nation European Battery Innovation project an important project of common European interest (IPCEI). Approval clears the way for the dozen EU member states to support companies in a push for innovation at all stages of the battery supply chain, under the bloc s state .
EU approves $3 5 billion to boost EV battery production in Europe autoblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoblog.com Daily Mail and Mail on Sunday newspapers.
Tesla Will Get A Portion Of $3.5B Battery Aid For Giga Berlin 4680 Cells ++
As reported by
Bloomberg, 42 companies from dozens of different countries in Europe will share $3.5 billion in state aid headed up by the European Commission. The plan, coined European Battery Innovation, is referred to as a Project of Common European Interest by the commission. Its goal is to improve the battery value chain through additional support of related research and innovation.
Tesla is working to launch a dedicated battery production facility for its in-house 4680 cell development and implementation. The project will work alongside its upcoming Gigafactory Berlin. Telsa s plan, in addition to related battery pursuits from companies like BMW and FCA, will benefit financially from the European Commission s new funding aid.