Could 19, 2023: The European Fee stated on Could 11 that it had authorized an €837 million ($909 million) support scheme to Spain to finance battery manufacturing.
Underneath the scheme, firms that produce batteries and associated key elements and uncooked supplies can apply for grants and loans.
The help bundle was authorized beneath the EU’s momentary state support disaster and transition framework, designed to encourage the creation of apparatus for the transition in direction of a net-zero economic system.
The utmost quantity of support per beneficiary quantities to between €100 million and €300 million for funding within the area of batteries.
The European Fee’s govt vice chairman answerable for competitors coverage, Margrethe Vestager (pictured), stated the Spanish scheme “is a crucial step within the transition to a web zero economic system, whereas defending the extent enjoying area in area of a market”.
The evaluation printed on March 6, by the clear transport marketing campaign group Transport & Surroundings, stated {that a} inexperienced industrial coverage centered on batteries has assist throughout the EU for scale of manufacturing wanted to counter incentives and subsidies for US and Chinese language business.
VW batteries subsidiary PowerCo stated on March 17 that it has given the go-ahead to construct a second battery cell manufacturing unit within the Spanish area of Valencia.
The manufacturing unit will begin producing built-in cells for VW electrical automobiles in 2026 and may have an preliminary annual manufacturing capability of 40GWh.
Photograph: Aurore Martignoni /EC – Audiovisual Companies
