Incoming BMW Group CEO Milan Nedeljković warned the EU it must be careful not to fall behind other global markets if it adopts protectionist measures in the proposed Industrial Accelerator Act.
The Industrial Accelerator Act includes new ‘Made in Europe’ rules intended to shield European car makers and suppliers from an influx of cheaper Chinese-made rivals, and Nedeljković said such protectionist policies risk undermining Europe’s competitiveness.
The bloc proposed the Industrial Accelerator Act as an effort to protect European car makers and suppliers from cheaper Chinese competition.
Read the full article at autocar.co.uk.
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