11-May-2025
Corporate News
 
As the US races ahead, Europe frets about battery factory subsidies
02-Jun-2023

The European Union is trying to assemble the building blocks to produce electric cars, but subsidies are luring companies to the United States European leaders complained for years that the United States was not doing enough to fight climate change. Now that the Biden administration has devoted hundreds of billions of dollars to that cause, many Europeans are complaining that the United States is going about it the wrong way. That new critique is born of a deep fear in Germany, France, Britain and other European countries that Washington’s approach will hurt the allies it ought to be working with, luring away much of the new investments in electric car and battery factories not already destined for China, South Korea and other Asian countries.

News Source:- https://www.business-standard.com/world-news/as-the-us-races-ahead-europe-frets-about-battery-factory-subsidies-123060101289_1.html