In a letter, 19 companies and organisations have called on the EU to prioritise funding to build up Europe's battery supply chain.
In a letter to European Commission president, 19 companies and organisations have called for the EU Innovation Fund to be expanded to help boost the European battery value chain. Ahead of the State of the Union speech, they ask for the equivalent of the EU Hydrogen Bank to be created for the critical minerals sector.
The letter, which is signed by Northvolt, Umicore, Rio Tinto and Transport & Environment among others, says the fund should give production-based support (e.g. a premium per kg of battery material processed in Europe) and fund capital investments and operational costs to scale up production.
But going back on the 2035 zero-emissions target and deploying no industrial strategy could instead see loss of 1 million auto jobs.
A new study models the impact of EU electric vehicle leadership and ambitious policies on investment and jobs.
In many markets European carmakers are falling behind Chinese EV manufacturers as they have little to offer to aspiring drivers in the Global South ri...