The European Commission has greenlit significant state subsidies for 11 companies, including Airbus, BMW, and Michelin, to enhance hydrogen technology for transport. This approval is part of a broader initiative to replace fossil fuels across Europe. The "Hy2Move" project, supported by multiple EU countries, aims to catalyze €3.3bn in private investments for developing hydrogen fuel cells and storage solutions. This effort is the latest in a series of projects under the IPCEI framework, pushing the total state aid for hydrogen to €18.9bn.
Read more here: https://www.euronews.com/green/2024/05/28/brussels-green-lights-14bn-in-state-subsidy-for-hydrogen-projects