Europe's Battery Ambitions Surge as Tesla Eyes Germany
Europe is ramping up its battery production ambitions. The European Battery Alliance (EBA), established in 2021, is driving investment. Meanwhile, companies like TerraE and Northvolt are planning production facilities, with Northvolt targeting 32 gigawatt-hours by 2023. Tesla is also eyeing Germany for an 'auto battery Gigafactory'.
The European Commission is backing this push, allocating €110 million in 2019 and €2.7 billion by 2020 for battery-related projects. Germany, aiming to transition to renewables, sees battery production as vital. It's exploring the idea of attracting producers to coal-dependent areas through its Coal Commission.
Tesla's interest in Germany is significant. The country already hosts Europe's largest battery, a 50MWh project in Jarelund, which came online in June 2021. This project is a joint venture between Eneco, Mitsubishi Corporation, and NEC ES, demonstrating international collaboration in the sector.
With Europe's goal to lead the global battery market, these developments signal a significant shift. The continent is not only investing in production but also considering strategies to create new jobs and revenue streams in areas affected by the decline of fossil fuels.
