• About Us
  • Who Are We
  • Work With Us
Sunday, May 22, 2022
No Result
View All Result
NEWSLETTER
The Globe Post
39 °f
New York
44 ° Fri
46 ° Sat
40 ° Sun
41 ° Mon
No Result
View All Result
The Globe Post
No Result
View All Result
Home Environment

EU Okays Mega State Aid to Develop Electric Battery Giants

Staff Writer by Staff Writer
12/09/19
in Environment, Featured, World
European Union flags

Elections for the European Parliament take place between 23 and 26 May. Photo: Ludovic Marin, AFP

Share on FacebookShare on Twitter

The E.U.’s powerful anti-trust authority on Monday approved billions of euros in subsidies from seven member states as Europe seeks to make up lost ground in the highly strategic sector of electric batteries.

The move is part of a major push led by Germany and France to prepare Europe for the emergence of electric cars, as gas combustible engines are phased out over concerns for the environment.

The European car industry employs over 10 million people and the EU – led by Germany and France – is deeply concerned about Europe’s dependence on car batteries from Asia.

The mega subsidy of 3.2 billion euros ($3.5 billion) from Germany, France, Italy, Poland, Belgium, Sweden, and Finland will go to a consortium of 17 companies and will help generate an extra 5 billion euros in private investment, a statement said.

The commission, the E.U.’s anti-trust enforcer, usually holds a strict line against state subsidies, but in 2014 gave more leeway for countries to back strategic transnational projects.

The wave of new subsidies are part of something called the European Battery Alliance.

The campaign, launched in 2017, was designed to entice European industry to create an Airbus of batteries, in reference to the aviation giant that was born of a similar ambition a generation ago.

Companies involved include German car giant BMW and chemical multinationals BASF and Solvay.


More on the Subject 

‘Flight Shaming:’ Can Air Travel be Part of a More Sustainable Future?

ShareTweet
Staff Writer

Staff Writer

AFP with The Globe Post

Related Posts

Volkswagen logo
Environment

German Farmer Sues Volkswagen Over CO2 Emissions

by Staff Writer
May 20, 2022
China Muslim Uyghurs
Opinion

Unfair Politicization, Corruption, and the Death of Modern Olympism

by Jianli Yang
April 23, 2022
Chinese leader Xi Jinping
Opinion

How Wrong ‘How China Can End the War in Ukraine’ Is

by Yan Yu and Jianli Yang
April 1, 2022
Protestors hold signs as they gather during a rally for Uyghur Freedom
Featured

It’s Time We Give Corporations a Human Rights Scorecard

by Jianli Yang and Alvaro Piaggio
March 9, 2022
China Uyghurs
World

UN Says No Rights Report on China’s Xinjiang Before Olympics

by Staff Writer
January 28, 2022
China Uyghurs
World

French Parliament Officially Recognizes China’s Uyghur ‘Genocide’

by Staff Writer
January 20, 2022
Next Post
Climate Change Poses ‘Lifelong’ Child Health Risk

Climate, Immigration Activists Join Forces Demanding 'Just Transition'

stephen miller white nationalism

Democratic Senators Demand 'White Nationalist' Trump Advisor be Fired

Recommended

Volkswagen logo

German Farmer Sues Volkswagen Over CO2 Emissions

May 20, 2022
Vladimir Putin

Russia Says Economy Grew 3.5 Percent in First Quarter

May 18, 2022
Mexico missing people

Over 100,000 People Reported Missing in Mexico, Data Reveals

May 17, 2022
Shireen Abu Akleh

Jerusalem Archbishop Condemns Israeli Police Raid at Journalist’s Funeral

May 16, 2022
A Lebanese election official stands at a polling station

New Group Threatens Lebanese Elections… and Potentially Middle East Peace

May 18, 2022
Israel

15 European Nations Urge Israel to Reverse Plans for More Settler Homes

May 13, 2022

Opinion

A Lebanese election official stands at a polling station

New Group Threatens Lebanese Elections… and Potentially Middle East Peace

May 18, 2022
A man holding a gun

Safely Back in USA, Land of Guns and Burgers

May 2, 2022
China Muslim Uyghurs

Unfair Politicization, Corruption, and the Death of Modern Olympism

April 23, 2022
Ukraine war

The Ukrainian Refugee Crisis and the Hierarchies of Western Compassion

April 20, 2022
Chinese leader Xi Jinping

How Wrong ‘How China Can End the War in Ukraine’ Is

April 1, 2022
Ukraine children

The War for Ukraine’s Lives and Minds

March 30, 2022
Facebook Twitter

Newsletter

Do you like our reporting?
SUBSCRIBE

About Us

The Globe Post

The Globe Post is part of Globe Post Media, a U.S. digital news organization that is publishing the world's best targeted news sites.

submit oped

© 2018 The Globe Post

No Result
View All Result
  • National
  • World
  • Business
  • Interviews
  • Lifestyle
  • Democracy at Risk
    • Media Freedom
  • Opinion
    • Editorials
    • Columns
    • Book Reviews
    • Stage
  • Submit Op-ed

© 2018 The Globe Post