EU can sharply cut local battery prices with Made in Europe plan, T&E report says

Core Insights - The report by T&E indicates that scaling up battery production in Europe could reduce the cost gap between EU-made batteries and those from China from 90% to approximately 30% [1][4] - The EU is set to propose the "Industrial Accelerator Act," which will prioritize locally manufactured products in key strategic sectors, including batteries and electric vehicles [2] - T&E's analysis suggests that improved manufacturing efficiency could lower the cost gap to $14 per kilowatt-hour by 2030, significantly reducing costs for electric vehicles [3] Group 1 - The report emphasizes the need for a domestic battery industry in Europe to protect against supply chain vulnerabilities and suggests that local content requirements are essential for scaling production [4] - The proposed "Made in Europe" plan should include public support schemes, such as EV tax rebates for both consumers and corporate car schemes [5]