- Europe aims to mobilize 20 billion EUR for AI Gigafactories, receiving 230 billion EUR in private sector proposals.
- The Competitiveness Fund proposes over 400 billion EUR for research, digital, and clean tech in the next European budget.
- Europe's electricity from low-carbon sources exceeds 70%, reducing the fossil fuel bill by 60 billion EUR last year.
- The global market for batteries is expected to double in five years, with Europe focusing on a Circular Economy Act.
Innovation and AI
President von der Leyen emphasized Europe's progress in closing the innovation gap with the US and China, particularly in AI. Europe has increased its supercomputers in the global top 10 from two to four, thanks to investments in high-performance computing. The Competitiveness Fund aims to allocate over 400 billion EUR for research, digital, and clean tech in the next European budget.
Energy Independence
Europe's focus on reducing energy costs and dependencies has led to over 70% of its electricity coming from low-carbon sources, cutting the fossil fuel bill by 60 billion EUR last year. Initiatives like the Wind Package and improved energy infrastructure are part of this strategy.
Clean Tech and Circular Economy
The global market for batteries is expected to double in the next five years, with Europe aiming to capitalize on this growth. The Circular Economy Act is in development to enhance resource efficiency, as Europe already produces 33% more output per kilogram of raw materials than the US and 400% more than China.
Reducing Dependencies
Von der Leyen highlighted the need to reduce dependencies in sectors like defense, emphasizing that Europe must unite around this agenda. The Draghi report's recommendations have been endorsed by all Member States and the European Parliament, signaling a collective commitment to action.
