The European Battery Alliance (EBA) has sounded the alarm over the US Inflation Reduction Act (IRA) and its effect in Europe. Following a high-level industrial meeting with European Commission Vice-President Maroš Šefčovič, the group said that urgent action is needed in Europe to create a level playing field to prevent an outflow of projects.
The EBA argued:
- The growth of the European battery industry is at risk. It blamed geopolitical developments, dependency on Asia and the IRA plus similar support schemes leading to stalled investments in Europe
- The EU and national framework for industrial go-aheads lacks speed and clarity. This means risks and delays.
“The upcoming weeks will be decisive for decision makers to act and prevent the outflow of investment from Europe,” the statement said. “An emergency package of measures is urgently needed at EU, member states and local levels to accelerate and de-risk investments, speed up industrial projects, and level the global playing field.”
The statement proposed a series of measures, including emergency financial incentives and new temporary rules to allow more state aid.