European Commission releases Clean Industrial Deal to decarbonize industry

The European Commission has released the Clean Industrial Deal (CID), a strategy designed to enhance the EU’s industrial competitiveness while decarbonizing its industry. The plan mobilizes €150 billion for clean technology, with €100 billion allotted as direct funding through the Industrial Decarbonisation Bank. Key initiatives include funding for battery production, regulatory measures to support EV manufacturing, and guidelines for sustainability in public procurement, aimed at facilitating the transition towards a greener economy in the automotive sector.