Anticipating the European battery boom

With fossil fuel engines on their way out, batteries are becoming one of the world’s most important commodities. Until now, European production of electric vehicles (EVs) has been dependent on batteries from abroad, primarily from Asia. This, however, is about to change.

“Investments in battery technology and production in Europe have already surpassed that of China’s. The battery industry here is growing faster than on any other continent. A few years ago, we only had one European battery factory in the works. Now, we have at least 10 more under planning or construction,” says Thore Sekkenes, programme director of the EBA250.

The EBA250 is the industrial development programme of the European Battery Alliance and managed by EIT InnoEnergy. The European Battery Alliance was launched in 2017 by the European Commission. Since then, the EBA250 has been working to secure investments, initiate partnerships and adjust regulatory frameworks with the aim of building a robust, competitive and sustainable battery industry in Europe.

By all metrics, the initiative has been successful. In the course of three years, it has attracted close to 500 industrial partners. European battery investments are now approaching EUR 100 billion – a nearly thirtyfold increase from 2017.

According to Maros Šefčovic, Vice-President of the European Commission for Interinstitutional Relations and Foresight, the European Battery Alliance is an astounding success.

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