Europe passes Net-Zero Industry Act amidst mixed fortunes for local battery gigafactories
- Admin
- May 30, 2024
- 1 min read
The European Council adopts the Net-Zero Industry Act to support the clean energy manufacturing industry in Europe. The Act aims to simplify permitting processes, enhance market access for strategic technology products, and boost Europe's clean energy workforce. Several battery gigafactory projects in Europe show mixed fortunes. Verkor in France secures a €1.3 billion green loan for its first gigafactory in Dunkirk. Svolt from China cancels a gigafactory project in Germany due to market challenges. Freyr in Norway evaluates turning its gigafactory site into a battery component manufacturing site. Britishvolt's potential gigafactory site in the UK is sold to Blackstone. InoBat in Slovakia produces its first battery cells in partnership with Gotion.
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