Mexican Media Brands
EU Eases Funding for European Battery Push
The European Union is loosening anti-competitive rules to allow member countries to fund battery research and build giant factories to make batteries for electric cars.
#hybrid #labor
Share
The European Union is loosening anti-competitive rules to allow member countries to fund battery research and build giant factories to make batteries for electric cars, the Financial Times reports.
The policy shift reflects the EU’s view that local capacity to develop and make EV batteries will be strategically critical as the transport network becomes electrified. Leaders worry that Europe’s auto industry, which employs some 13 million people, will wither if it is forced to rely on Asia for batteries.
Europe is in catch-up mode on EV battery manufacturing. FT cites data indicating that Asia currently controls about 80% of the world’s battery production capacity, followed by the U.S. at 15% and Europe with less than 4%.
The EU’s new philosophy allows its members to fund 100% of local battery research, provided some projects involve other member countries, FT says. The Horizon 2020 research fund offers €1 billion for local and regional battery research and production demonstration projects. Cash to build battery “giga-factories” is available through the European Fund for Strategic Investment.
FT notes that Asian battery companies such as LG Chem and Samsung SDI are adding capacity in Poland and Hungary, respectively, even as the EU rushes to create its own production centers.
RELATED CONTENT
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
Robotic Exoskeleton Amplifies Human Strength
The Sarcos Guardian XO Max full-body, all-electric exoskeleton features strength amplification of up to 20 to 1, making 200 pounds—the suit’s upper limit—feel like 10 pounds for the user.
