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“We were able to raise 180 billion euros in private capital in the European battery sector,” Sefcovic told “Welt am Sonntag”.
According to Sefcovic, the opening of the first plant for the cathode material at the Schwarzheide plant south of Brandenburg next Thursday by the German chemical group BASF will close an important gap in the European value chain.
About 30 major electric car factories are currently planned in the EU, “but what we were totally missing was active cathode and anode material production,” he said. It is a huge opportunity for BASF in Lusatia to focus on what exactly is missing from battery production capacities in Europe.
The European Court of Auditors warned on Monday that the phasing out of the internal combustion engine planned for 2035 will not succeed without a much faster expansion in battery production.
However, Sefcovic thinks the European targets are still achievable. “Our initial assessment was that we could meet 80 to 90 percent of the European automotive industry’s battery needs by the end of the decade, and that’s still our target,” the politician told the newspaper.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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