EU takes on US as tries to win electric car battle

The move comes after the US announced big investments in climate friendly technology.

Source link In a move to strengthen its global presence and develop a technological edge in electric cars, the European Union has launched an ambitious strategy to compete with the United States in the electric vehicle market.

The European Commission (EC) is taking a two-pronged approach: first, it has established a “charging infrastructure observatory” to identify new opportunities to develop the necessary recharging infrastructure across the continent, and second, it has committed to increase investment in research and development related to electric vehicles. Planning for the initiative was first announced in 2015, but was only made public by the Commission in January.

The EC’s ambition is to build a smart, efficient and interoperable recharging system for all types of electric vehicles. The new observatory will bring together stakeholders from across Europe – from carmakers and energy suppliers, to EU countries and academics – in order to identify existing and emerging trends in the electric vehicle market. This could allow the European Union to keep pace with US companies, who have already started to make serious investments in electric cars.

However, the EC’s initiative is facing some headwinds. Automakers have been critical of the policy, arguing that the Commission should focus more on improving the market for electric cars rather than the associated infrastructure. They have also voiced concern that too much investment is coming from government sources, rather than from private industry.

In addition, the European Union also has much work to do in terms of creating a uniform legal framework across its member countries. With different regulations governing the use of electric cars in different countries, the Commission will have to develop a strategy to offer carmakers a legally-compliant market in which to compete.

Despite the challenges ahead, the European Commission is determined to make the electric car market a major pillar of the European Union’s economy. If successful, its strategy could help ensure Europe’s place as a world leader in the market for electric cars and lithium-ion batteries.

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