The European Union co-finances the development of new battery technologies with EUR 3.2 billion - News -

The European Union co-finances the development of new battery technologies with EUR 3.2 billion

Estimated Duration Of Reading : 1 ' 52 ''   Publish Time : 2019-12-12 14:29:03
Editor : Said Murat
Category : Technology

The European Commission has just accepted a huge amount of funding that will go to several projects dealing with technological development in the field of batteries.

The money comes from several EU Member States, such as Belgium, Finland, France, Germany, Italy, Sweden and Poland, as well as the private sector, which will invest an additional EUR 5 billion. According to one of the EC Vice-Presidents, Margrethe Vestager: - Battery production in Europe is one of the strategic interests of our economy and society, and all because of the potential for clean energy, job creation, self-sufficiency and competitiveness. The accepted goal guarantees that this important project can move forward without unduly distorting competition.

Public money will be allocated to research on the extraction and processing of raw materials, the production of chemical materials, the design of galvanic cells and modules that can be integrated into systems and ultimately the methods of recycling and reusing used batteries. Funding such projects is one of the main goals of Ursula von der Leyen, president of the European Commission, who spoke openly about it in one of her speeches this year.

New highway project for electric vehicles in PolandNew highway project for electric vehicles in Poland

It is worth emphasizing that nothing is happening here without a reason, because investing in research and development of new battery technologies is to help the European Union achieve the overarching goal of zero carbon economy by 2050. Such funding as it deserves today, however, deserves praise, because it is for us all a chance for even more capacious batteries of electric cars, allowing to cover longer distances on a single charge and technology much more environmentally friendly.

When we talk about battery, it is not only a battery for smart devices, but also huge batteries for vehicles. We share many posts about electric and autonomous cars which you see some of them on the roads already. However, they still have a long way to go. European Commision wants to have a special fund only for projects which are belong to battery technologies. 

Some of the automotive manufacturers have found a way to build vehicles with batteries lasts a long time. But having a fund by European Commission will encourage new innovatives, startups, entrepreneurs, investors and also huge companies.