China auto industry group opposes proposed EU Industrial Accelerator Act
( May 25, 2026, 02:17 GMT | Official Statement) -- MLex Summary: China’s auto industry association opposes the European Commission’s proposed Industrial Accelerator Act, saying in a statement Friday that the draft law would impose discriminatory restrictions on foreign investment in sectors including batteries and electric vehicles. The China Association of Automobile Manufacturers said the proposal would cap foreign shareholdings at 49 percent, require technology transfers and mandate that at least 50 percent of employees be local hires, while also favoring “EU-origin” products in public procurement. The association said the measures unfairly target Chinese automakers and suppliers, disrupt normal China-EU industrial cooperation and violate WTO rules.Statement follows (in Chinese)....
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