Europe is sinking billions of dollars into research in an attempt to overturn Asia’s dominance of the battery market, but analysts believe it could be in vain. Along with various national initiatives, the European Union has put half a billion euros ($550 million) into battery projects within its Horizon 2020 global competitiveness program, which had a total budget of €80 billion ($88 billion) from 2014 to 2020. And last December the European Commission approved €3.2 billion of state funding under its “important project of common European interest” (IPCEI) rules. The investment will support battery research and innovation across Belgium, Finland, France, Germany, Italy, Poland and Sweden.
GTM 15th April 2020 read more »