European Union has announced Euro 2.2 billion support for supporting electric vehicles segment and battery technology. On October 11, Maros Sefcovic, senior level energy official for the European Union and leaders from BMW AG, BASF SE will discuss the topic in detail in Brussels. The European economic powerhouses are planning to create European battery consortium.

Many European countries are considering strict legislation to push forward greener vehicles. For development of new technologies, automobile companies are working on several projects. However, there are a few bottlenecks and European officials are planning to clear those issues.

As per Bloomberg report, EU energy spokeswoman Anna-Kaisa Itkonen said, “The European Commission views battery production in the EU as a strategic objective and believes that major business decisions on battery cell investments need to be taken quickly.”

Wider consumer acceptance of electric vehicles will also need supercharging stations across Europe. Tesla has managed to setup strong supercharger network in many regions across the United States. The company has planned more investment in future for development of its supercharging network.

The German government has supported the initiative. With official support, companies will be in a better position for development of new technologies for electric vehicles.