Boosting Eu Ev Demand, Local Battery Production
The European Commission will publish its automotive action plan next week to boost demand for electric vehicles (EVs) in the European Union and includes local content requirements for car battery production. The draft proposes measures to accelerate the uptake of EVs in fleets, incentivise purchases, and provide funding options for them. The EU executive aims to help ensure EU car producers can compete with more advanced Chinese and U.S. rivals.
- By emphasizing local battery production, the EU Commission is attempting to level the playing field for European automotive manufacturers by reducing their dependence on foreign suppliers.
- Will the proposed measures be sufficient to address the significant gap in EV adoption rates between Europe and other regions, and what role will private sector investment play in bridging this gap?