EU Invests €4.6 Billion in Clean Technologies

The European Commission has announced a significant investment of €4.6 billion to advance decarbonization technologies and renewable hydrogen projects, funded through the EU Emissions Trading System (ETS). This includes €3.2 billion for net-zero technologies, with specific allocations for electric vehicle battery cell manufacturing and renewable hydrogen production. In the UK, Ford's leadership is urging the government to implement consumer incentives up to £5,000 to stimulate electric vehicle sales, which are crucial for meeting climate targets. The EV sector in Europe faces challenges from sluggish demand and intense competition from Asia, prompting calls for additional EU funds to support battery manufacturing. The Commission's initiatives aim to ensure the EU's industrial competitiveness and facilitate the transition to climate neutrality by 2050.