EU's 'Made in Europe' Plan Aims to Bridge Battery Cost Gap

The EU's 'Made in Europe' initiative could reduce the cost gap of locally made batteries compared to Chinese imports from 90% to 30%. By boosting production efficiency and scaling up efforts, the initiative aims to establish a competitive battery industry in Europe, mitigating reliance on external supply chains.

The European Union's 'Made in Europe' initiative is poised to bridge the cost gap between locally manufactured batteries and those imported from China, transport and environmental group T&E reported on Monday.

The EU's upcoming 'Industrial Accelerator Act' will prioritize local production in key strategic sectors like batteries, aiming to slash the cost disparity from 90% to around 30%.

Advocates argue that the move is necessary to curb reliance on external supply chains, with T&E's Julia Poliscanova stating that local content requirements are a 'sovereignty premium worth paying.'

(With inputs from agencies.)