EC approves € 3.2 billion for the development of e-mobility

[[MC]Ronin[MC]]

The funds will be distributed to 17 companies that will invest in the development of lithium-ion (liquid and solid electrolyte) batteries.

 

The European Commission has approved € 3.2 billion in research and innovation across all segments of the development of batteries for electric cars. This money will be distributed to the seven initiators of the initiative, with Opel and BMW taking the money.

This is a very important project of common European interest (“IPCEI”) signed by Belgium, Germany, Finland, France, Italy, Poland and Sweden. Its purpose is to accelerate research and innovation in the field of lithium-ion batteries (liquid or solid electrolyte). These seven countries can now subsidize research projects in the field, with Germany accounting for the largest share (EUR 1.25 billion).

Research funding will cover the entire process of creating a lithium-ion battery - from the extraction and processing of raw materials, the production of advanced chemical materials, the design of cells and modules, and their integration into intelligent systems. Finally, the recycling and reuse of old batteries remains.

Germany, BASF, Opel, Umicore and Varta will receive funding in Germany. The aim is to create innovative modules that can be used not only in the automotive sector but also in various instruments.

These funds will come in addition to the one billion euros promised last November by German Economy Minister Peter Altmeyer, also known as the Altmeyer Billion. It is also intended to finance R&D activity in the field of lithium-ion batteries.

Strong in the area right now are Sweden's Northvolt and France's Saft, which works with Manz, Siemens and Solvay. These companies want to develop European-funded solid electrolyte batteries. Currently, the continent is producing batteries from Asian (China and South Korea) CATL and SK Innovation.

The € 3.2 billion mega-subsidy will be distributed to 17 companies and will help generate an additional € 5 billion in private investment.