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News and information from Europe 🇪🇺

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Rules (2024-08-30)

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BRUSSELS, March 2 (Reuters) - Scaling up production in Europe could cut the cost gap between EU-made batteries and those coming from China to around 30% from a current 90%, transport and environment campaign group T&E said in a report on Monday, and it urged the EU to support the sector with its "Made in Europe" plans.

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Spain’s Prime Minister Pedro Sánchez openly condemned the US and Israeli strikes on Saturday, warning that they could heighten regional tensions and “contribute to a more uncertain and hostile international order.”

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GKN Powder Metallurgy has scrapped plans to produce rare earth permanent magnets in Europe, three sources with knowledge of the matter said, highlighting the region's difficulty in creating a domestic rare earths industry to compete with dominant producer China.

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The joint statement from the E3 — France, Germany, and the United Kingdom — is a master class in evasion. "We did not participate in these strikes, but are in close contact with our international partners, including the United States and Israel," they declared. The text also lists all the references and rationalizations used by Iran hawks — “nuclear program, ballistic missile program, regional destabilization and repression against its own people.”

Not a single reference to the international law that explicitly prohibits aggression. It is particularly Orwellian that the European leaders “urge the Iranian leadership to seek a negotiated solution,” when Iranian Foreign Minister Abbas Araghchi was literally doing exactly that the day earlier in Geneva.

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Porsche began scaling back production at its Cellforce battery division to focus on R&D. The reason? Manufacturing was no longer “economically viable,” the carmaker said.

Sweden’s Northvolt, which was aiming to put Europe on the map as a battery production leader, filed for bankruptcy in 2024

Stellantis-backed Automotive Cells Company shelved two battery factory projects in Germany and Italy last month

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The Tax Authority has placed the management of the new VAT system entirely in the hands of the American company FAST Enterprise

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