EC and EIB launch €3bn partnership for EU battery manufacturing
The European Commission and European Investment Bank have announced a new partnership to bolster the EU's battery manufacturing sector. The initiative includes a €200m top-up to the InvestEU programme from the EU Innovation Fund, €1bn in grants for electric vehicle battery cell manufacturing projects, and a planned €1.8bn EIB investment in the wider battery value chain. This €3bn public support package aims to address financing challenges, support innovative projects, and strengthen the European battery industry's competitiveness and sustainability. The partnership aligns with key EU policies, including the Green Deal, Batteries Regulation, and Net-Zero Industry Act.