EU Invests $4.8 Billion in Clean Tech & EV Batteries

The European Commission has allocated $4.8 billion to support clean technologies and electric vehicle (EV) batteries.

In a statement released on Tuesday, the European Commission revealed that it has earmarked $4.83 billion to fund net-zero technologies, including the manufacturing of EV battery cells.

As part of its green transition efforts, the Commission will launch two new calls for proposals with a budget of $3.6 billion. These calls, which will run over five years until 2029, aim to accelerate the deployment of innovative decarbonization technologies across Europe, including EV batteries.

In addition, the Commission has plans to invest $1.26 billion to support and fast-track the production of renewable hydrogen through the second auction of the Eur