Skip to comments.EU greenlights mega subsidies for electric batteries
Posted on 12/09/2019 3:58:21 AM PST by Olog-hai
The European Unions anti-trust authority approved 3.2 billion ($3.5 billion) in subsidies aimed at helping Europe boost its lagging competitiveness in the electric battery sector.
The subsidy from seven members states Germany, France, Italy, Poland, Belgium, Sweden and Finland will go to 17 different companies, a statement from the European Commission said. The investment injection will help generate an extra 5 billion in private investment, it added.
Electric battery production is an important industry sector for the Europe, and the push for subsidies is part of a broader push led by France and Germany to make sure Europe doesnt fall behind in the transition from gas combustible to electric engines. [ ]
The subsidies are part of an EU campaign called the European Battery Alliance. Launched in 2017, it is designed to incentivize European industry to create an Airbus of batteries a reference to the gigantic European multinational aviation company.
While the European Commissions anti-trust body has previously held a strict line against state subsidies, in 2014 it gave more leeway to allow countries to back strategic transnational projects.
(Excerpt) Read more at dw.com ...
Am I missing something here? Is there any other type of battery, that is NOT electric? 😁
Battery Park in Burlington, VT, so named for all of the cannons that used to be there.
Battery being a concentration of artillery pieces.
Battery as in beating someone.
I hope they make a battery breakthrough but am not optimistic that a radical improvement in battery parameters going to happen. I’m glad it’s Europe’s money being spent, not ours.
Good, let them foot the bill for the R and D which the Chicoms will steal instead of us.
Thought for a second you meant Republicans and Democrats instead of research and development, lol. But the Chicoms stole lots of them too . . .
It wasn’t that long ago the earth was going to die because of all the batteries in landfills.
Plastic or paper V.2.
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