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.
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