Tag #Eu Industrial Policy

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fr.euronews.com

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Apr 9, 19:19

European Steel Crisis: 11,000 Job Cuts at ThyssenKrupp Amidst US Tariffs and Global Overcapacity

ThyssenKrupp plans to cut 11,000 jobs amid a European steel crisis fueled by US tariffs, high energy costs, global overcapacity, and cheap Chinese steel; the EU is countering with a €100 billion investment plan focused on green steel and the CBAM.

European Steel Crisis: 11,000 Job Cuts at ThyssenKrupp Amidst US Tariffs and Global Overcapacity

ThyssenKrupp plans to cut 11,000 jobs amid a European steel crisis fueled by US tariffs, high energy costs, global overcapacity, and cheap Chinese steel; the EU is countering with a €100 billion investment plan focused on green steel and the CBAM.

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How do US tariffs on steel and aluminum contribute to the European steel crisis, and what are the resulting trade flow changes?

The global steel overcapacity of 550 million tons annually exacerbates the crisis. US tariffs, initially intended to protect American steelmakers, divert trade flows from the US to Europe, flooding the EU market with cheaper, often unfairly priced, foreign steel. This influx threatens European producers, necessitating protective measures like the EU's Carbon Border Adjustment Mechanism (CBAM) starting in 2026.

kathimerini.gr

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Mar 13, 22:12

Northvolt Files for Bankruptcy, Raising Concerns for Europe's Battery Production

Swedish battery producer Northvolt, once considered Europe's leading hope for domestic battery production, filed for bankruptcy in Sweden after accumulating $1.03 billion in losses in 2023, despite initial plans for a $20 billion IPO and a temporary lifeline in the US in November 2024. The company's...

Northvolt Files for Bankruptcy, Raising Concerns for Europe's Battery Production

Swedish battery producer Northvolt, once considered Europe's leading hope for domestic battery production, filed for bankruptcy in Sweden after accumulating $1.03 billion in losses in 2023, despite initial plans for a $20 billion IPO and a temporary lifeline in the US in November 2024. The company's...

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What factors contributed to Northvolt's financial difficulties, and what role did government support or lack thereof play?

Northvolt's failure highlights the risks of government support for specific industries and questions the EU's industrial policy. The company's collapse, despite securing a temporary lifeline in the US in November 2024, resulted in a $577 million loss for the 4 to 1 Investments AB fund, among others. Major shareholders included Volkswagen and Goldman Sachs.

elpais.com

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Feb 26, 22:09

EU Launches €100 Billion Plan to Boost Industrial Competitiveness

The European Commission unveiled a €100 billion plan to revitalize EU industry by lowering energy costs, streamlining regulations, and creating a new decarbonization bank, aiming to boost competitiveness while meeting climate targets.

EU Launches €100 Billion Plan to Boost Industrial Competitiveness

The European Commission unveiled a €100 billion plan to revitalize EU industry by lowering energy costs, streamlining regulations, and creating a new decarbonization bank, aiming to boost competitiveness while meeting climate targets.

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What immediate actions are taken to address the EU's high energy costs and enhance industrial competitiveness?

The European Commission launched a three-pronged plan to boost EU industrial competitiveness: a Clean Industry Pact, an Affordable Energy Plan, and a red-tape reduction program. A key component is a €100 billion industrial decarbonization bank, funded by member states, EU budget, and carbon emission revenues.

elmundo.es

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Mar 13, 04:09

Northvolt Bankruptcy: A Setback for European Battery Industry

Swedish battery producer Northvolt declared bankruptcy with €8 billion in debt, jeopardizing the EU's plans for a domestic electric vehicle battery industry due to insufficient production and reliance on Chinese components despite receiving over €10 billion in public and private investment.

Northvolt Bankruptcy: A Setback for European Battery Industry

Swedish battery producer Northvolt declared bankruptcy with €8 billion in debt, jeopardizing the EU's plans for a domestic electric vehicle battery industry due to insufficient production and reliance on Chinese components despite receiving over €10 billion in public and private investment.

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How did the combination of EU subsidies, investments, and Northvolt's reliance on Chinese components contribute to the company's failure?

The bankruptcy exposes the gap between EU environmental policies and industrial realities. Despite significant public and private investment (over €10 billion), Northvolt's reliance on Chinese components and delivery issues hindered its growth, contrasting with the success of Chinese competitors. This underscores the need for a more realistic approach to industrial policy.

es.euronews.com

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Feb 27, 01:09

EU Launches €100 Billion Clean Industry Pact to Lead Green Tech

The European Union launched a Clean Industry Pact allocating over €100 billion to become the global leader in green technologies, aiming to reduce energy costs, boost domestic production, and ensure access to critical raw materials while facing concerns about undermining the Green Deal.

EU Launches €100 Billion Clean Industry Pact to Lead Green Tech

The European Union launched a Clean Industry Pact allocating over €100 billion to become the global leader in green technologies, aiming to reduce energy costs, boost domestic production, and ensure access to critical raw materials while facing concerns about undermining the Green Deal.

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How does the EU plan to address concerns that the Clean Industry Pact might weaken its commitment to the Green Deal?

This initiative seeks to reindustrialize Europe by making decarbonization a growth driver, enabling the 27 member states to transition to a low-carbon economy while competing with China and the US. The plan involves mobilizing significant funds, fostering access to critical raw materials through collective purchasing and supply chain diversification, and employing trade defense instruments against unfair competition.

politico.eu

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Jan 7, 19:09

EU Unveils Emergency Plans to Support Struggling Industries

The European Commission plans to launch emergency support plans for struggling EU industries, including energy-intensive sectors, by creating decarbonized public markets and reducing regulatory burdens, as announced by Executive Vice-President Stéphane Séjourné.

EU Unveils Emergency Plans to Support Struggling Industries

The European Commission plans to launch emergency support plans for struggling EU industries, including energy-intensive sectors, by creating decarbonized public markets and reducing regulatory burdens, as announced by Executive Vice-President Stéphane Séjourné.

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What immediate actions will the European Commission take to address the challenges faced by its struggling industries?

The European Commission will unveil emergency plans to support struggling European industries, focusing on energy-intensive sectors like metals, cement, and energy. These plans, part of the Clean Industrial Deal, will include specific investment amounts and skilled worker needs. The Commission aims to counter rising energy prices and global competition.

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