In Brussels, 13 CEOs of Europe's leading vehicle manufacturing companies and automotive suppliers met in Brussels with EU Climate Action Commissioner Wopke Hoekstra at an automotive roundtable to discuss the sector's green transition. This meeting was preceded by a meeting with Charles Michel, President of the European Council, ahead of next week's EU Competitiveness Summit.

The automotive sector, one of the EU's most vital economic pillars, stands at a critical crossroads as it embarks on its most significant transformation in the last century, accelerating to meet the world's most ambitious CO2 reduction targets for vehicles. Manufacturers and automotive suppliers aim to retain production in Europe, safeguarding jobs and investments in the region. However, they currently face a 'perfect storm' of fierce global competition for critical resources, funding, investments, and customers, exacerbated by rising business costs, a rapidly changing geopolitical landscape, and an immature electric vehicle market.

Luca de Meo, CEO of Renault Group and President of ACEA, highlighted the need to create conditions for competitiveness and market demand for electric vehicles in Europe, including charging and hydrogen refueling infrastructure, adequate supplies of critical raw materials, better access to funding, and market incentives. "A comprehensive industrial strategy will be key to achieving Europe's green ambitions," De Meo noted.

Matthias Zink, CEO of Automotive Technologies at SCHAEFFLER and President of CLEPA, emphasized the importance of ensuring conditions to mitigate investment risks in innovative technologies and facility and workforce transformation amidst a challenging economic environment. "The regulatory framework must remain ambitious yet flexible to keep Europe competitive," Zink added.

During the roundtable, both European truck and bus manufacturers and automotive suppliers underscored the urgent need to deploy zero-emission trucks and buses on roads. The sector commits to providing suitable vehicles to transition the road transport industry to fossil-free solutions by 2040, focusing on battery-electric and hydrogen-powered vehicles. Technological neutrality must remain a guiding principle to ensure all technologies contribute to decarbonization efforts.

The European automotive industry urges EU policymakers to take ambitious action to address these concerns, paving the way for a greener and more sustainable future for all.