EU battery initiative looking tardy

In May last year, the EU launched the European Battery Alliance aimed at getting European  companies to build 10-20 battery factories.

Only one European company plans to build a factory – NorthVolt of Sweden.

Meanwhile foreign companies are  racing to set up European battery plants.

GSR Capital of  China is producing battery cells at an old Nissan plant in the UK.

LG Chem and Samsung SDI of Korea are about to begin production at European factories.

EV manufacturer BYD of  China, SK Innovation of Korea,  GS Yuasa of Japan, and Contemporary Amperex Technology (CATL) of China  are all looking for European sites for battery plants.

The EU says it wants to avoid technological dependence on foreigners but, with European battery companies already taking a fatalistic approach to battery manufacturing by looking to link up with foreign companies, it looks as if  the EU battery initiative was a year or two  too late.