The European Commission approved on Monday 3.2 billion euros ($3.53 billion) of state aid from seven European Union countries for research and innovation in battery technology. The approval is for projects in Belgium, Finland, France, Germany, Italy, Poland, and Sweden to support research and innovation in the common European priority area of batteries. The 3.2 billion euro in public funding, is expected to unlock an additional 5 billion euro in private investments. The completion of the overall project is planned for 2031. “Battery production in Europe is of strategic interest for our economy and society because of its potential in terms of clean mobility and energy, job creation, sustainability, and competitiveness,” said Margrethe Vestager, Executive Vice-President responsible for competition. “The approved aid will ensure that this […]