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EU go-ahead for Spain’s €837m battery aid scheme


Might 19, 2023: The European Fee stated on Might 11 that it had authorized an €837 million ($909 million) support scheme to Spain to finance battery manufacturing.

Beneath the scheme, corporations that manufacture batteries and associated key parts and uncooked supplies can apply for grants and loans.

The help package deal was authorized beneath the EU’s short-term state support disaster and transition framework, designed to encourage the creation of apparatus for the transition in the direction of a net-zero economic system.

The utmost quantity of support per beneficiary will probably be between €100 million and €300 million for investments within the area of batteries.

The chief vice chairman of the European Fee accountable for competitors coverage, Margrethe Vestager (pictured), stated that the Spanish strategy “is a vital step within the transition to a web zero economic system, whereas defending the extent enjoying area within the area of a market”.

The evaluation revealed on March 6, by the clear transport marketing campaign group Transport & Surroundings, stated {that a} inexperienced industrial coverage centered on batteries has help throughout the EU for scale of manufacturing wanted to counter incentives and subsidies for US and Chinese language business.

VW batteries subsidiary PowerCo stated on March 17 that it has given the go-ahead to construct a second battery cell manufacturing facility within the Spanish area of Valencia.

The manufacturing facility will begin producing built-in cells for VW electrical automobiles in 2026 and can have an preliminary annual manufacturing capability of 40GWh.

Picture: Aurore Martignoni /EC – Audiovisual Companies

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