EU Commission's Budget Reduction Threatens BATT4EU Finance
European Car Battery Industry Faces Uncertainty with Budget Cut to BATT4EU Partnership
The European car battery industry is facing an uncertain future as a significant budget cut has been announced for the BATT4EU Partnership, a project under Horizon Europe. The partnership, which focuses on the advancement of the EU's car battery supply chain, has received a €100 million reduction in funding, causing concern among industry and research organisations.
A letter put forward by the Commission and 11 other signatories to the European Commission has emphasised the importance of delivering a competitive and innovative car battery value chain in the EU. The signatories, which include members of the Batt4EU partnership, have jointly written an open letter to the European Commission, requesting the securing of Horizon Europe funding for the Batt4EU partnership.
The reduction in the budget allocation for BATT4EU could directly impact the development of car battery technologies within the EU. The goal is to create a competitive and innovative car battery value chain in the EU, and funding in car battery R&D under Horizon Europe could make the European car battery industry competitive compared to overseas players.
Without the guaranteed funds for the BATT4EU Partnership, the European car battery ecosystem could be at risk. The partnership is focused on the advancement of the EU's car battery supply chain, and the reduction in funding could hinder the development of car battery technologies in the EU.
Additional funding under Horizon Europe could help deliver on the decarbonisation goals set by the Commission. The BATT4EU Partnership is part of Horizon Europe, and securing its budget could ensure a steady supply for future domestic demand.
The request from the industry is to keep the budget for BATT4EU intact. To achieve an ambitious goal of a competitive car battery value chain in the EU, funds for the BATT4EU Partnership must be guaranteed. The European Commission is yet to respond to the open letter, and the future of the car battery industry in the EU remains uncertain.
