What’s the story
France, Germany, and Sweden have jointly called on the new European Commission to make Europe self-sufficient in battery production.
The call comes as the region looks to reduce its reliance on China for its green transition requirements.
The three countries raised the issue in a document ahead of an EU ministers’ meeting on EU competitiveness.
European battery firms face challenges in global market
The document emphasized that European battery firms are struggling to scale up due to an uneven global market.
The three countries proposed that the EU should speed up approval processes, simplify funding and market access for new sector entrants, and boost EU funding for the battery industry.
“If we are to succeed with the green transition we need to get the European battery sector flying,” said Swedish Industry Minister Ebba Busch.
Northvolt’s bankruptcy intensifies need for European battery production
The call for self-reliance has become more urgent after Northvolt filed for Chapter 11 bankruptcy protection in the US last week.
The Swedish government has repeatedly maintained that it will not bail out Northvolt, once Europe’s best bet for an electric vehicle battery champion.
Busch stressed that a strong signal from Brussels about the future of European battery production could improve Northvolt’s chances of attracting new capital from elsewhere.
China dominates global battery cell production
China now dominates the world in manufacturing battery cells for electric vehicles, accounting for some 85% of global production, data from the International Energy Agency shows.
Busch warned that the EU has to learn from its past reliance on Russian gas and not fall into the trap of relying on an economic rival again.
She feared the green transition could turn into a “Chinese transition in Europe.”
New European Commission to address climate targets
The new European Commission, which will take over on December 1, plans to release a strategy within its first 100 days.
This strategy will detail how the bloc can remain economically competitive while meeting its climate goals.
Busch said the three nations are pushing for better regulations to promote new projects and create conditions to allow companies to scale up.
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Publish date : 2024-11-28 20:36:00
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