Source: European Commission (video statements)
The European Union is taking new steps to secure the critical raw materials its industries depend on.
The European Commission President, Ursula von der Leyen has announced during the State of the Union address a new European Corporation on Critical Raw Materials, designed to help Europe obtain and stockpile materials needed for electric cars, batteries, chips, clean technologies and defence.
The announcement comes as the EU seeks to rebalance its economic relationship with China and reduce strategic dependencies in critical raw-material supply chains.
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