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(MONTE CARLO, Monaco) – Governor Holcomb says European businesses aren’t pulling back on investment, despite disruptions from the war in Ukraine.

Holcomb is on his second European trade mission in a month, visiting Britain, Sweden, and Monaco. He says companies are struggling with price hikes and supply issues tied to the war, but says that means opportunities for Indiana. He says companies are looking for certainty and speed while dealing with state governments, and argues that plays to Indiana’s strengths, along with the state’s robust manufacturing sector.

Holcomb’s been meeting with companies like Rolls-Royce which already have plants in Indiana, but the Monaco leg of the trip is focused on trying to establish Indiana as a leader in the electric-vehicle industry. The governor met Friday with battery-pack manufacturers, whose work runs, in Holcomb’s words, “cradle to cradle” — from research and development to recycling. On Saturday, he’ll mingle with industry representatives at the Monaco E-Prix, the sixth race of the season for the electric-vehicle Formula E circuit.

Holcomb notes the war has underlined Europe’s need to break dependence on Russian energy, potentially juicing demand for electric vehicles.