On 26 January 2021, the European Commission approved and released a second Important Project of Common European Interest (IPCEI) to support research and innovation in the battery value chain. This technology is vital for an European transition to climate neutrality.
The project, called “European Battery Innovation” was jointly prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden.
The 12 Member States will inject up to €2.9 billion in funding in the coming years which in turn is expected to generate 3 times as much, i.e. €9billion in private investement. The public funding is expected to unlock an additional €9 billion in private investments,
It is expected by 2025, that the actions under the European Battery Alliance will result in an industry robust to power at least six million electric cars each year. This success lies in collaboration, with some 300 partnerships between industrial and scientific actors foreseen under this project alone and the generated spillover effects.
This second IPCEI is expected to boost the European strategic autonomy in a sector vital for Europe’s green transition and long-term resilience.