Commission Approves €48 Million French State Aid Measure to Support Envision AESC France's Production of Batteries for Electric Vehicles
Taogent Intelligent Manufacturing
Provider of designing manufacturing battery cathode & anode materials production line
The European Commission has approved, under EU State aid rules, a €48 million French measure to support?Envision AESC France?in setting-up a new factory for the production of Lithium-ion batteries for electric vehicles in Douai. The measure will contribute to the?EU's strategic objectives?relating to job creation, regional development, and to the green transition of the regional economy.
The French measure
France notified the Commission of its plans to support?Envision AESC France?in the?establishment of the first phase of a new factory in Douai, Hauts-de-France. The plant will produce Lithium-ion batteries for electric vehicles with an annual capacity of 9 GWh in this first phase.
The aid, which will take the form of a?direct grant, will amount to €48 million. The project will create approximately 1,000 direct jobs, as well as further indirect jobs.
The new factory, which is designed to be carbon neutral, will be located in the Hauts-de-France, an area eligible for regional aid under Article 107(3)(c) of the Treaty on the Functioning of the EU ("TFEU").
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The Commission's assessment
The Commission assessed the measure under EU State aid rules, in particular?Article 107(3)(c)?of the TFEU, which allows Member States to promote the economic development of the most disadvantaged areas of the EU, and the 2022?Regional Aid Guidelines?("RAG").
The Commission found that:
On this basis, the Commission approved the French measure under EU State aid rules.
Source: European Commission (Website)