EU support of 2.9 billion euros for electric vehicles

The EU Commission has approved a total of 2.9 billion euros in support of companies including Tesla and BMW to support the production of batteries, batteries for electric vehicles.

The 2.9 billion euro aid approved within the framework of the European Battery Innovation Project was brought to the agenda with the European Battery Alliance, which was initiated in 2017 and aims to support the drive away from fossil fuels in the automotive industry.

Alongside Tesla and BMW, 42 companies, including Fiat Chrysler Automobiles, Arkema, Borealis, Solvay, Sunlight Systems and Enel X, will benefit from the 2.9 billion euro support.

According to the statement, funds to support battery production will come from Germany, France, Belgium, Finland, Spain, Croatia, Slovakia, Poland, Sweden and Greece.