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Green light for € 2.9 billion EU public aid to battery research

The EU Commission reported that joint projects entitled “European Innovation in Batteries” prepared by Germany, France, Italy, Spain, Belgium, Austria, Croatia, Finland, Greece, Poland, Slovakia and Sweden were approved to improve the supply chain of batteries.

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Consequently, the 12 countries in question will provide public support of 2.9 billion euros by 2028 to 46 projects in the field of batteries, including 42 companies such as BMW, Tesla, Fiat, Varta and Solvay.

The participants will contribute approximately 9,000 million euros of additional investment to the projects.

Thus, with the participation of companies, universities and research centers, 300 collaborations will be carried out in the fields of raw materials, materials, batteries, battery systems, recycling and sustainability.

In 2019, the EU Commission approved public aid of 3.2 billion euros from 7 member countries for research and production in battery technology in Europe.

The battery market in Europe is expected to reach € 250 billion by 2025

The supply of batteries, which constitute an important part of the added value in the production of electric cars, is of great importance for the European industry.

While the arrival of cutting-edge technologies to the Chinese and US automotive industry has been a topic of debate among the European public in recent years, the Chinese company CATL, LG Chem, and Korea-based Samsung South, are among the largest manufacturers of these batteries in the world.

The authority of member states to determine how they will provide public support falls under the mandate of the EU Commission.

EU countries can only use public subsidies in a way that does not harm competition and is in the public interest.

Source: www.ntv.com.tr

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