EU will Spend £112m on Electric Cars

Horizon 2020 work program, the biggest ever EU research funding project, will oversee the spend of £65bn over seven years.

The aim of the program is to fund science and innovative projects, to place Europe ahead of other world powers.

The report states: Research to support the future development of a production base for next generation Lithium battery cells or post-lithium battery cells would enable Europe to compete with world leaders in this sector.

The €133million (£112m) call for Green Vehicles includes around €20million (£17m) for the development of a new generation of cells and their integration in competitive batteries.

A budget of £10m has been allocated for the ‘Greening the economy’ initiative which looks to unite water research and innovation efforts across Europe and a further £70m will be spent on developing energy storage systems.

These investments will bring the total spend on the “Energy Challenge” which includes the spend on batteries, to almost €200 million.

According to the Commission the main priority is to “get Europe growing again” through the creation of jobs and spending on research and innovation. The report states there is an “immediate need to engage the re-industrialisation of Europe” and a longer-term objective of “building solid knowledge needed for the next wave of innovative breakthroughs”.

A massive £525m has been earmarked for spending on electronics, computing, networking, robotics and photonics, with a further £47m on digital security.

The Commission’s report reveals a focus on ensuring EU residents do not “miss out on” goods and services which are bought online and funding will also go to internet companies and start-ups so they can expand as fast as possible.

A further £190m will contribute to boosting and renewing Europe’s industrial capacities and £279m is to be spent on “personalised medicine” which funds research into the elderly, diseases and effective prevention, diagnosis and treatments.

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