Volvo Cars and Stellantis have warned that European carmakers face higher costs and smaller markets if Brussels pushes too far in its drive to reduce the bloc’s reliance on US technology.
Håkan Samuelsson, chief executive of Volvo Cars, told the FT that “Europe would be the only loser” if the EU were to impose any restrictions or barriers on US technology. Stellantis chief technology officer Ned Curic said it will “drive expenses” for Europe’s car industry.
The warnings come after the European Commission last month unveiled a tech sovereignty package aimed at reducing the bloc’s reliance on Big Tech by fostering homegrown technology and introducing requirements for digital public procurement.
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