EU competition regulators on Tuesday approved a 2.9-billion-euro ($3.5 billion) battery project funded by Germany, France, Italy and nine other EU countries, responding to the growing demand for car and industrial batteries in the 27-country bloc. Members of the scheme called European Battery Innovation include Austria, Belgium, Croatia, Finland, Greece, Poland, Slovakia, Spain and Sweden, the European Commission said. The countries hope to attract 9 billion euros from private investors. The bloc launched the European Battery Alliance in 2017 in a bid to develop an industry that should flourish in a low-carbon future and ensure the continent is not reliant on imported products - or technology.
27 Jan 2021 / 00:30 H. Vestager speaking at a news conference on the European Battery Innovation project at the European Commission headquarters in Brussels on Tuesday. – POOL/REUTERSPIX
BRUSSELS: The European Union (EU) 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 Commission s approval of the €2.9 billion (RM12.16 billion) European Battery Innovation project, follows the launch in 2017 of the European Battery Alliance that aims to support the industry during the shift away from fossil fuels. The EU Commission has approved the entire project. The individual funding notices and funding amounts per company will now follow in the next step, a German economy ministry spokeswoman said of the project that is set to run until 2028.
2 Min Read
BRUSSELS (Reuters) - 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.
FILE PHOTO: Margrethe Vestager, European Commissioner for A Europe Fit for the Digital Age, speaks at a news conference on the Digital Services and Digital Markets Acts at the European Commission headquarters in Brussels, Belgium December 15, 2020. Olivier Matthys/Pool via REUTERS/File Photo
The European Commission’s approval of the 2.9 billion euro ($3.5 billion) European Battery Innovation project, follows the launch in 2017 of the European Battery Alliance that aims to support the industry during the shift away from fossil fuels.
Agence Europe
27 January 2021
Green light for €2.9 billion public support for a second electric battery project
Brussels, 26/01/2021 (Agence Europe)
The European Commission authorised, on Tuesday 26 January, under EU State Aid rules, a second Important Project of Common European Interest (IPCEI) to support research and innovation along the entire electric battery value chain.
This project, called ‘European Battery Innovation’, was jointly developed and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden
(see EUROPE B12608A21). Germany was at the origin of this.
2 Min Read
BRUSSELS (Reuters) - 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.
FILE PHOTO: Margrethe Vestager, European Commissioner for A Europe Fit for the Digital Age, speaks at a news conference on the Digital Services and Digital Markets Acts at the European Commission headquarters in Brussels, Belgium December 15, 2020. Olivier Matthys/Pool via REUTERS/File Photo
The European Commission’s approval of the 2.9 billion euro ($3.5 billion) European Battery Innovation project, follows the launch in 2017 of the European Battery Alliance that aims to support the industry during the shift away from fossil fuels.