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EN
Commission launches €1.5bn call for European battery manufacturing projects
['Jack Thomas']
Innovation News Network
The European Commission has opened a €1.5bn funding competition designed to accelerate European battery manufacturing by supporting companies as they scale electric vehicle (EV) battery cell production.
The scheme, delivered through the Battery Booster Facility and financed by the Innovation Fund, will provide interest-free loans to eligible projects across the European Economic Area (EEA).
Focus on first commercial-scale EV battery plantsThe funding call is reserved for battery cell manufacturing projects serving the electric vehicle market and located within the EEA.
To be considered, applicants must be developing their first full-scale commercial EV battery cell production facility anywhere in the world.
Reviewers will consider whether projects are sufficiently mature to move into commercial production, whether financing plans are robust, and how each investment would strengthen the wider European battery ecosystem.