"EU Takes Aim at Chinese Dominance: €109 Billion Invested in Battery Supply Chain In a bid to break China's stranglehold on the global battery market, the European Union has invested a staggering €109 billion in the continent's battery supply chain. The massive injection of funds is aimed at reducing the EU's reliance on Chinese battery production and creating a more sustainable and secure energy future. By targeting the battery supply chain, the EU hopes to drive innovation and increase its competitiveness in the growing market for electric vehicles and renewable energy systems. As the continent continues to push for a greener future, this significant investment is seen as a crucial step towards achieving energy independence and challenging China's long-held dominance in the industry."
Investments were mainly focused on the battery supply chain, with €109 billion engaged so far, as the continent tries to challenge a Chinese monopoly on battery production.
