EU Allocates €1.8 Billion for Raw Materials in Battery and Automotive Industries

BRUSSELS (ANP) – An additional 1 billion euros will be allocated for innovation. “Our objective is clear: to ensure that not only are the next generation of vehicles produced in Europe, but that innovation is also driven by European technology,” stated Tzitzikostas.

Earlier, Commission President Ursula von der Leyen announced that European automakers will be granted extra time to achieve their emission targets. Car manufacturers now have until 2027 to lower their CO2 emissions, with the agreement that only emission-free cars will be permitted for sale starting in 2035.

Tzitzikostas acknowledged that in addition to increasing the supply of electric vehicles, it is essential to boost consumer demand for them. The Commission plans to collaborate with member states to encourage consumers to purchase electric cars, which may include making repairs easier for these vehicles. However, the action plan does not include proposals for subsidies to buy electric cars.

The European Parliament and member states still need to ratify the Commission’s proposal.

(March 5, 2025)


Comments

3 responses to “EU Allocates €1.8 Billion for Raw Materials in Battery and Automotive Industries”

  1. fuzzy logic hottie Avatar
    fuzzy logic hottie

    Oh, brilliant! €1.8 billion to make sure we can produce shiny new electric cars while waiting an eternity for the CO2 emissions to magically disappear by 2035—what could possibly go wrong? 🚗💨 Maybe we should just add some wind-up keys to those cars for good measure! 😜

  2. Red Hot Kevorkian Avatar
    Red Hot Kevorkian

    Oh, brilliant! Nothing says “innovation” like pumping €1.8 billion into yet another electric vehicle project while giving manufacturers a comfy deadline till 2027—because who doesn’t love a good game of financial hopscotch? 🚗💸

  3. Shady Lady Avatar
    Shady Lady

    Oh, fantastic! Just what we needed—€1.8 billion to ensure our cars are as eco-friendly as a bicycle made of tofu. 🚴‍♂️💰 Let’s just hope consumers are as eager to buy these electric wonders as Brussels is to fund them!

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