The European Union to invest over 850 million euros in innovative EV battery projects
Six selected projects will receive a total of €852 million in grants from the Innovation Fund, using revenues from the EU Emissions Trading System (EU ETS). "With these projects, and in line with the Industrial Action Plan for the European automobile sector and the Clean Industrial Deal, the EU is making concrete progress toward its decarbonisation goals, while boosting industrial competitiveness and creating high-quality jobs across Europe", stated the EU Commission.
The European Commission announced that six pioneering electric vehicle (EV) battery cell manufacturing projects will receive a total of €852 million in grants from the Innovation Fund, using revenues from the EU Emissions Trading System (EU ETS).
“With these projects, and in line with the Industrial Action Plan for the European automobile sector and the Clean Industrial Deal, the EU is making concrete progress toward its decarbonisation goals, while boosting industrial competitiveness and creating high-quality jobs across Europe”, stated the EU Commission in a press note. The targeted Battery Call for proposals is part of a broader initiative to strengthen Europe’s battery value chain with up to €3 billion in financial support.
The Innovation Fund 24 Battery call attracted 14 proposals from 8 countries, out of which 13 met the Call’s eligibility criteria. The six awarded projects were selected through an evaluation by independent experts against several award criteria.
The six awarded EV battery projects within the EU
In particular, six projects have been selected for funding:
- 46inEU – Powering the Future – 46 Cylinders, Infinite Possibilities in Europe, located in Poland (LG Energy Solution)
- ACCEPT Automotive Cells Company European Production Take-off, located in France (Automotive Cells Company ACC)
- AGATHE – Advanced Gigafactory Aiming at Tempering greenhouse gases Emissions, located in France (Verkor)
- CF3_at_Scale – Scaling of innovative manufacturing processes for high-performance cells, located in Germany (Cellforce Group)
- NOVO One – NOVO One Gigafactory, located in Sweden (NOVO Energy)
- WGF2G – Willstatt GigaFactory 2 GWh, located in Germany (Leclanche)
All projects are expected to begin operations before 2030. Over the first 10 years of operation, they are projected to reduce greenhouse gas (GHG) emissions by approximately 91 million tonnes of CO2 equivalent. Upon completion, these projects will have a combined manufacturing capacity of around 56 gigawatt-hours (GWh) of EV battery cells per year.
“The €852 million investment in European EV battery cell manufacturing delivers on our goals to increase competitiveness and support pioneering decarbonisation technologies. With each Innovation Fund call, we’re demonstrating the key role of the EU Emissions Trading System in making our industry innovative and fit for the future. This first call dedicated to batteries shows we are committed to deliver on the Industrial Action Plan for the European Automotive Sector. We want the EU battery manufacturing to thrive thanks to innovative, clean technologies that will get us closer to materialising the clean industrial transition”, stated Wopke Hoekstra, Commissioner for Climate, Net Zero and Clean Growth.
