The European Commission has initiated two new funding calls and a hydrogen auction totaling 3.4 billion euros to accelerate decarbonization efforts in Europe. The first call, valued at 2.4 billion euros, focuses on various net-zero technologies like renewable energy components, heat pumps, and hydrogen production. The second call, with a budget of 1 billion euros, aims at supporting electric vehicle (EV) battery cell manufacturing and innovative production methods. These initiatives are financially supported by the EU’s Innovation Fund derived from the EU Emissions Trading System (ETS). Additionally, a 1.2 billion euro auction under the European Hydrogen Bank is set to enhance renewable hydrogen production in the European Economic Area, with contributions from three Member States. Notably, these calls emphasize resilience criteria to lessen reliance on single suppliers for EU’s industrial competitiveness and supply chain security. Furthermore, the European Commission and the European Investment Bank (EIB) announced a 200 million euro loan guarantee via the InvestEU program to bolster battery manufacturing projects, aiding in Europe's transition towards clean energy. These measures play a crucial role in the EU's target of achieving climate neutrality by 2050 while enhancing its global industrial competitiveness.