EU member states demand urgent support for struggling battery industry
- During a meeting in Brussels, Sweden, Germany, and France expressed the need for more EU support for the battery industry.
- Swedish Industry Minister Ebba Busch stated that current regulations are hindering European competitiveness.
- The discussions highlighted the necessity of bolstering the battery industry to protect economic interests in the automotive sector.
On November 28, 2024, Sweden, Germany, and France gathered in Brussels for an EU ministerial meeting, where they voiced urgent concerns regarding the state of the European battery industry. Swedish Industry Minister Ebba Busch expressed that excessive and convoluted regulations are undermining Europe's competitiveness. The German representative, State Secretary Bernhard Kluttig, emphasized the critical importance of a strong battery sector for the German automotive industry, indicating that the viability of this industry is closely tied to the broader automotive market. Busch highlighted the plight of the struggling Swedish battery manufacturer Northvolt, which recently filed for Chapter 11 bankruptcy protection in the United States, a situation that has garnered attention across Europe as it points to the larger challenges facing the battery sector. The leaders are advocating for the European Commission to not only foster the growth of new battery companies but also to assist existing ones in scaling their operations significantly to secure a viable market share amidst fierce competition from the United States and Asia. The consensus was clear that now is the time for decisive EU intervention to safeguard and promote the European battery industry's future, which is crucial for the region's economic stability.