Leaders look to Africa and Latin America for energy diversification to safeguard 2050 climate objectives.
The EU holds 50% of the global electrolyser market but relies heavily on China for fuel cells and lithium-ion batteries crucial for EVs.
Worried by China’s growing global assertiveness and economic weight, the leaders will discuss the European Commission’s proposals to reduce the risk of Europe being too dependent on China and the need diversify towards Africa and Latin America. While the EU has a strong position in the intermediate and assembly phases of making electrolysers, with a more than 50% global market share, it relies heavily on China for fuel cells and lithium-ion batteries crucial for electric vehicles.
Ending most energy purchases from Russia caused an energy price shock in the EU and a surge in consumer inflation, forcing the European Central Bank to sharply raise interest rates in a move that has curbed economic growth.
Italia Ultime Notizie, Italia Notizie
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