Tzitzikostas presents EU strategy for automotive industry, focusing on innovation and sustainability

Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas presented the new EU Strategy for the Future of the European Automotive Industry at the European Parliament's plenary session in Strasbourg on Wednesday.
Tzitzikostas highlighted the value of the automotive industry for Europe, as he said it contributes 7% to the European GDP, while the sector employs 13.8 million workers.

However, he reiterated the risks facing the automotive industry in the supply chain, energy costs, staff shortages, protectionism, over-reliance on imported raw materials, the lagging behind of European companies in cutting-edge technologies such as batteries, software and autonomous vehicles.

Tzitzikostas stressed that the EU Strategy introduces flagship initiatives in five areas: innovation and digitisation, clean mobility (sustainable transportation), competitiveness and supply chain resilience, skills and equal competition.

As for the resources allocated for implementing the Strategy, they aim to transform the new reality of the European automotive industry. Specifically, among other measures, the following will be allocated:
-Up to 50 billion euros under InvestEU for clean technology and sustainable mobility.
-1.8 billion euros from the Innovation Fund for battery manufacturing.
-1 billion euros from Horizon Europe for connected and autonomous vehicles and batteries.
-570 million euros under the Alternative Fuels Infrastructure Facility for charging points, with a focus on trucks.
-Funding for skills development, including 90 million euros from Erasmus+ for training.
-And additional funding for small and medium-sized enterprises (SMEs).