"European Automakers Demand Increased Local Content: In a move that could reshape the continent's automotive industry, three major European car manufacturers have issued a joint call to action to the European Union. In a letter to EU policymakers, the companies - reportedly Volkswagen, BMW, and Mercedes-Benz - have urged that by 2030, at least 70% of all vehicles sold in the EU must be comprised of components sourced from within the 27-country bloc. The push for increased local sourcing is seen as a bid to boost European manufacturing, reduce reliance on imported parts, and mitigate the impact of supply chain disruptions. As the EU continues to navigate its post-Brexit economic landscape, the implications of this proposal could be far-reaching, with potential implications for both domestic and international trade."
In a joint letter to the EU, the three automakers called for 70 percent of vehicles sold in the European Union to source 70 percent of their value from within the 27-country bloc.
