BRUSSELS - The European Commission on Wednesday proposed allowing increased levels of state aid so that Europe can compete with the United States as a manufacturing hub for electric vehicles and other green products and reduce its dependence on China.
This is partly a response to multi-billion-dollar support programmes of China and the United States, including the“Major economies are rightly stepping up investment in net zero industries,” von der Leyen told a news conference. “What we are looking at is that we have a global playing field.” The International Energy Agency estimates the global market for mass-produced clean energy will triple to around US$650 billion a year by 2030, with related manufacturing jobs more than doubling. The European Union wants a part of the action.
She proposed loosening state aid rules for investments in renewable energy or decarbonising industry, on a temporary basis, until end-2025, while recognising that not all EU countries will be able to offer subsidies to the same extent as France or Germany.
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