European Union President Ursula von der Leyen on Wednesday announced that the future of electric vehicles (EVs) must be European, unveiling ambitious proposals to strengthen the competitiveness of the industrial sector, trade relations, and green transformation of the bloc.
In a keynote speech at the European Parliament in Strasbourg, von der Leyen announced that the European Commission will fund battery technology and EV deployment at an accelerated pace with a total of 1.8 billion euros over two years, and the term “Made in Europe”. The move comes after the Chinese car makers are aggressively pushing into all of Europe with cheaper and diverse electric vehicles that have been eating into the market share of the European automobile companies.
She stated, “When it comes to digital and cleantech, we have to be faster, smarter, and we have to be more European.”
The executive arm of the EU, the commission, will also present new suggestions in strategic sectors like clean technology, which includes goods and innovations that reduce the negative environmental impacts.
EU European Union President Von der Leyen referred to the relative energy efficiency of Europe as an advantage, stating, “We must stay the course on our climate and environmental goals.” Also marked that it produces 70 percent of its energy with low-carbon and that the region out leads the United States in patents on clean technologies. We should stay the course toward our climate and environmental goals.
In her support of industrial action, von der Leyen also justified her newly concluded trade agreement with U.S. President Donald Trump as superior to agreements that much of the European international competition had achieved. Nevertheless, she emphasized that the European Union had to diversify its trade partners due to a restructuring of the geopolitical order.
President Von der Leyen said, “80% of our trade is with countries other than the United States, so we need to capitalize now on these new opportunities.” Meanwhile, she quoted the term “Crumbling” to the present trading situations.
She pointed to new progress in trying to seal an agreement with other nations, such as Mexico and India, and she indicated that she hopes the commission can complete the negotiations on a fresh agreement with the latter before the year ends. European Union President Von der Leyen said, “Make no mistake, this is a fight for our future.” She advised the audience to struggle to retain its own position in a global environment that was becoming more difficult and aggressive.
