Home » Car batteries, Europe wake up that the US is taking away your companies

Car batteries, Europe wake up that the US is taking away your companies

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Car batteries, Europe wake up that the US is taking away your companies

ROME – Electric cars, there is possible good news and possible bad news: which one do you want first? Seriously, how many times have we heard, or read, about the risk of dependence on China for the supply of car batteries?

Well, the EU could be independent of Chinese lithium-ion cells as early as four years from now, in 2027. Well, you’ll say: so what? The United States has stepped in. What do you mean? Washington has just approved tax breaks and other subsidies with the recent Inflation Reduction Act (IRA), a law to attract the production of green technologies. And then the risk is that the companies of Umicore (in Poland), Northvolt (in Sweden) and BASF (in Germany), just to name a few, could take bag and baggage and transfer everything to the States. And Europe would be stuck again.

Is this the situation, well illustrated by T&E, a non-profit and politically independent organization based in Brussels, which has been promoting sustainability for over 30 years? of the European transport sector and – after this analysis – also offers solutions for not losing this possible scenario, which sees the possibility of no longer depending on Asia for lithium-ion battery cells. Veronica Aneris, director of T&E Italia, warns: “Europe guarantees more resources. For Italy, a plan to protect the national industry is urgently needed, the future of jobs is in electric mobility. Already today, half of the lithium-ion battery cells used in the EU are produced on the Continent, but the new American law changes the rules of the game and for this reason Europe must guarantee more resources if it does not want to risk losing the production plants already expected and related new jobs for the United States. In this framework, it is urgent for Italy to develop a plan aimed at placing its national industry in a strategic position along the new value chain”.

There is only one solution: the EU should equip itself with a European Sovereign Fund to support green technologies to be financed through common debt issuance. This would ensure a level playing field for all Member States, also preventing countries with the most resources from taking advantage of them by offering generous public aid to their companies.

Will the European Union be so forward-looking?

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