After failing to win concessions from Washington, the EU unveils its own green-technology subsidies - in a potential boost for a clutch of ASX-listed players.
, have been chafing at the lengthy and complex processes for getting planning approvals.
“To keep European industry attractive, there is a need to be competitive with offers and incentives that are currently available outside the European Union,” Ms von der Leyen said.Marco Alvera, CEO of hydrogen vehicle maker TES, said competition between the US, China and Europe on green technology would benefit business, driving down the cost of inputs such as electrolysers. But the European producers needed support.
“This is why we have been working with our United States friends to find solutions, for example so that EU companies and EU-made electric cars can also benefit from the Inflation Reduction Act.” Instead, the EU has now thrown down the gauntlet. “We Europeans also need to get better at nurturing our own clean-tech industry,” Ms von der Leyen said. “Future investment decisions will be taken depending on what we do today.”On the plan to simplify and speed up planning approvals and restrictions on subsidies, Ms von der Leyen specifically talked about issues with the supply chains for lithium and critical minerals, where a lot of Australian activity in Europe is concentrated.
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