The European Union has announced a $105 billion deal to accelerate electrification and decarbonization.
The funds will be used to re-industrialize Europe, making industries greener and more productive.
The EU aims to invest in the clean tech sector, including electric vehicle development and manufacturing, to increase productivity and decarbonization.
The goal is to reduce carbon emissions by 25% in the next decade, despite efforts to expand the EU's manufacturing capabilities.