The European Commission has launched a €1 billion call for proposals for EV battery cell manufacturing, supporting projects that can produce innovative EV battery cells or deploy innovative manufacturing techniques, processes and technologies.
The call for proposals called ‘IF24 Battery’ is one of the first measures to be launched by the EU Commission during its new term of office. The funding is part of a larger package of 4.6 billion euros, intended to boost net-zero technologies, electric vehicle battery cell manufacturing and renewable hydrogen.
The call is financed by the Innovation Fund, which is financed by the EU Emissions Trading System.
In addition to the €1 billion, the Commission and the European Investment Bank (EIB) simultaneously initiated a new partnership to support investments in the EU’s battery manufacturing sector.
This partnership will see a €200 million top-up (loan guarantee) to the InvestEU programme from the Innovation Fund. The money will support innovative projects along the European battery manufacturing value chain to address financing challenges by enabling additional EIB venture debt operations over the next three years.
Read more about the EV battery cells call for proposals at the European Commission’s website.
