Tesla, BMW approved for slice of $3.5bn EU battery aid ...Qatar

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The European Union paved the way for companies including Tesla Inc and BMW AG to get about €2.9bn ($3.5bn) of state aid for battery projects that will strengthen the bloc’s position in the race to produce more electric vehicles. The European Commission expects the support to trigger more than three times as much private investment, bringing the total spent to about €12bn. The aid will go to 42 companies across a dozen countries, with beneficiaries also including Fiat Chrysler owner Stellantis NV and startup Northvolt AB. The 27-nation bloc plans to slash greenhouse gas emissions from transport under the European Green Deal, an ambitious economic overhaul aimed at reaching climate neutrality

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Last updated : 26 January 2021 clock 10:02 PM

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Tesla, BMW approved for slice of $3.5bn EU battery aid ...Qatar

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