The European Battery Alliance calls for help to avoid a crisis by claiming investments as a result of the US Inflation Reduction Act.
Founded in 2017, the European Battery Alliance (EBA) is a consortium that includes around 800 companies in the battery and electric car sectors, among others, that come together to address the industrial challenge of manufacturing batteries in Europe. Now, the European Battery Alliance is asking for help to avoid a crisis by claiming 100,000 million in investments.
This “crisis proposal”, as the Alliance has called it, calls for 100,000 million euros in emergency investments with the aim of promoting projects related to the supply of raw materials and the manufacture of batteries, as well as the start-up of factories on European territory.
The European Battery Alliance calls for help to avoid a crisis
EBA has established the Inflation Reduction Law that the United States has recently implemented, in which funds are allocated to encourage battery plants in the country. This movement has been joined by other countries, such as Japan or South Korea, given the positive results it is experiencing.
Faced with this situation, the European Battery Alliance sees the situation in the Old World in jeopardy, exposing the bureaucratic obstacles they face, especially when requesting permits for the start-up of factory projects or the extraction of raw materials .
This, according to the Alliance, “contributes to additional risks and delays in investment and project execution.” Therefore, the organization has sent a proposal to the European Commission with a series of measures with the aim of unlocking 100,000 million euros in investments.
The measures outlined include financial incentives to accelerate investments in Europe, shorten and facilitate industrial permits for raw materials, materials and industrial projects, and other actions to boost global leadership and competitiveness of the battery value chain.
