Commission approves €3.2 billion public support by seven Member States for a pan-European research and innovation project in all segments of the battery value chain
The European Commission has approved under EU State aid rules an Important Project of Common European interest (“IPCEI”) jointly notified by Belgium, Finland, France, Germany, Italy, Poland and Sweden to support research and innovation in the common European priority area of batteries.
The seven Member States will provide in the coming years up to approximately €3.2 billion in funding for this project, which is expected to unlock an additional €5 billion in private investments. The completion of the overall project is planned for 2031 (with differing timelines for each sub-project).
Margrethe Vestager, Executive Vice-President “Europe fit for the Digital Age” and Commissioner in charge of competition policy, said: « Battery production in Europe is of strategic interest for our economy and society because of its potential in terms of clean mobility and energy, job creation, sustainability and competitiveness. Our Important Projects of Common European Interest smooth the way for public authorities and industries from several Member States to come together and design ambitious innovation projects with positive spill-over effects across industrial sectors and regions. The approved aid will ensure that this important project can go ahead without unduly distorting competition.”
Read the European Commission press release