What is the significance of lithium batteries in Europe in 2023?

Let's dive into the significance of lithium batteries, their technological advancements, and the state of the industry in Europe as of 2023. Lithium batteries have revolutionized portable energy storage due to their high energy density, lightweight nature, and rechargeable capabilities.

What is batteries Europe?

Batteries Europe is the platform bringing together all relevant stakeholders in the European batteries research and innovation ecosystem in order to develop and support a competitive battery value chain in Europe.

How big is the battery market in the EU?

The EU could account for 17 % of that demand. According to some forecasts, the battery market could be worth of €250 billion a year by 2025. Batteries' manufacturing, use and end-of-life handling, however, raise a number of environmental and social challenges.

When did the EU adopt a battery regulation?

Parliament approved the agreed text on 14 June 2023. The regulation was published in the EU Official Journal on 28 July 2023. Procedure completed. The issue of batteries is relevant to many policy areas, from transport, climate action and energy to waste and resources.

What is Europe on the move on batteries?

In May 2018, as part of the third 'Europe on the move' mobility package, it adopted a dedicated strategic action plan on batteries, with a range of measures covering raw materials extraction, sourcing and processing, battery materials, cell production, battery systems, reuse and recycling.

Why should European countries invest in lithium battery production?

Local Production: To reduce dependence on imports and establish a self-reliant supply chain, European countries have been investing in building their own lithium battery production capacities. This initiative not only boosts the regional economy but also ensures the security of critical components for various industries.