European auto suppliers call for smarter regulation in 2017

Today, European automotive suppliers continue to lead the world in the design, engineering and manufacturing of key vehicle components and systems technologies, covering a wide range of products and services representing 75% of the added value of a vehicle. This sector employs more than 12 million people and works with manufacturers to produce a quarter of the world’s vehicles each year, representing more than 6% of the European Union’s GDP. Each year, European automotive suppliers together invest more than €22bn (US$23.35bn) in innovation and report combined turnover of more than €600bn.