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Europe Daily Bulletin No. 13323

9 January 2024
ECONOMY - FINANCE - BUSINESS / State aid
European Commission approves an initial German “matching aid” of €902 million to attract Northvolt battery production to Europe
Brussels, 08/01/2024 (Agence Europe)

On Monday 8 January, the European Commissioner for Competition, Margrethe Vestager, and the German Vice-Chancellor and Minister for the Economy and Climate Action, Robert Habeck, announced that the European Commission had authorised a German measure worth €902 million to support the construction of a battery production plant for electric vehicles by Northvolt in Heide (Germany). The aid will take the form of a direct grant of €700 million and a guarantee of €202 million.

According...

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