The EU has approved a €3.2 billion ($3.5 billion) fund for a pan-European research and innovation project on the battery value change, the European Commission said on Monday.

“The seven Member States [Belgium, Finland, France, Germany, Italy, Poland and Sweden] will provide in the coming years up to approximately €3.2 billion in funding for this project, which is expected to unlock an additional €5 billion ($5.5) in private investments,” the commission said in a press release.

“The plan is meant to create clean and low-emission mobility by the development of highly innovative and sustainable technologies for lithium-ion batteries,” it

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