The European Commission announced on 5 May an action plan aimed at promoting the robust and sustainable development of the automotive sector and helping to unlock its innovative capacity. The plan will provide 1.8 billion euros, specifically for the creation of a competitive supply chain of raw materials for batteries.
According to the introduction, the programme will provide 1.8 billion euros for the creation of a competitive battery raw materials supply chain, so that the cost competitiveness of the EU-produced electric vehicle battery cells and components in the short term to improve. The plan also includes a 'battery booster' package, through direct funding and other forms of support for the production of electric vehicle battery cells and components.
