EU must step up action in clean tech race, say industry groups

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BRUSSELS, Oct 26 — Europe’s green technology industries and materials suppliers urged European Union leaders meeting for a summit today to do more to prevent the bloc dropping...

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Neta V Malaysia: Still the cheapest EV here at RM100,000, now with free bodykit, auto tailgate, wallbox, one-year motor insurance Europe’s green technology industries and materials suppliers urged European Union leaders meeting for a summit today to do more to prevent the bloc dropping out of the global clean tech race against competitors China and the United States.

The European Union is expected to pass legislation setting targets for EU-based companies to make at least 40 per cent of the EU’s annual deployment needs of solar, wind and other net-zero technologies by 2030.The heads of European associations representing solar, wind, hydrogen, batteries, chemicals and metals sectors said in a letter that China had established a growing footprint across most clean tech sectors and the United States had taken a decisive step with its Inflation Reduction Act .

Europe, the associations said, needed competitive energy prices, measures to protect against unfair practices of third countries and economic incentives to encourage procurement of local materials or components. The associations said several quick fixes were possible this year and that industrial policy should be a key focus during the five-year term of the new European Commission formed next year. — Reuters

 

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