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 threshold—allowing significant reliance on lower-cost production hubs like Morocco—could undermine the initiative’s goals. Concerns center on maintaining supply chain resilience and fair competition within the bloc. Supporters of the act may now face pressure to tighten eligibility criteria to meet industry demands.
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 ...
