The European Commission approved on Monday the project with which Belgium, Finland, France, Germany, Italy, Poland and Sweden want to allocate 3.2 billion euros in public money to support research and innovation in the development of lithium-ion batteries, as reported in a statement.
The seven Member States intend to unlock 5,000 million euros in private investments in this field through this project, in which they want to work until 2031 and will have 17 "direct participants", mainly from the industrial field.
The Community Executive has argued that the alliance pursues "ambitious and risky" activities in the field of research and development of lithium-ion batteries to innovate at all stages of its value chain: from the obtaining and processing of Raw materials up to the design of cells and battery modules, their integration into intelligent systems and their recycling.
Brussels has stressed that the battery value chain is "strategic" for the future of European, particularly with regard to advances in clean mobility and low emissions. He has also noted that it implies "significant technological and financial risks" that can lead to "significant failures and delays".
Consequently, it has concluded that public aid is "necessary" to give "incentives" to the companies involved to carry out the relevant investments. In addition, community services have considered in their analysis that the project will generate "positive side effects" throughout the continent.
"The production of batteries in Europe has a strategic interest for our economy and society because of its potential in terms of mobility and clean energy, job creation, sustainability and competitiveness," said the Executive Vice President of the European Commission, Margrethe Vestager, responsible of Competition and Digital Era.