The European Union’s proposed Industrial Accelerator Act faces criticism from a major automotive supplier, whose CEO argues the plan must enforce stricter local content rules to protect European industry. The executive warns that a weaker standard—below 75 percent European-sourced components—could undermine domestic manufacturing by allowing cheaper imports from neighboring countries. Concerns also highlight the risk of bypassing regional production chains if loopholes permit assembly in lower-cost regions like North Africa. Industry leaders question whether the current framework will deliver on its goal of revitalizing Europe’s tech and automotive sectors.
Valeo CEO Christophe Perillat said the EU's Industrial Accelerator Act should require 75 percent European content and exclude low-cost neighbors such as Morocco, warning that a lower threshold would ...
