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EU wants to create consortium for production of lithium-ion batteries

The European Commission wants to unite the efforts of the largest European companies in the production of lithium-ion batteries and create an Airbus-style consortium.

The automotive industry is preparing to go all electric, and the authorities of countries already designate specific dates when batteries will displace gasoline and diesel.

Though in the car market European companies are leading with a market share of 25%, in the production of lithium-ion batteries the share of manufacturers from Europe is no more than 3%. Companies from China and the U.S. are dominating in this area.

In such circumstances Maros Sefcovic, European Commission vice-president in charge of energy, announces a meeting on October 11 with the heads of chemical companies and carmakers, as well as manufacturers of lithium-ion batteries, to assist co-operation in the sector with up to €2.2bn of EU funding available to support the plan.

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