Battery makers in the EU are being offered €3bn in subsidies as the bloc attempts to catch up with China by jump-starting the electric vehicle industry.
The European Commission proposed the sum on Wednesday as part of a prospective deal with the UK to postpone the introduction of tariffs due to hit electric vehicles traded between the two from January 1.
Maro? ?ef?ovi?, commission vice-president, said: “By providing legal certainty on the applicable rules and unprecedented financial support to European producers of sustainable batteries, we will bolster the competitive edge of our industry, with a strong value chain for batteries and electric vehicles.”
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