ASphotowed/iStock Editorial via Getty Images Toyota ( TM ) and Jaguar Land Rover have warned that the European Union's proposed "Made in Europe" rules could undermine investment, jobs, and competitiveness across the region's automotive sector, according to a Financial Times report. The concerns center on the EU's proposed Industrial Accelerator Act, corporate fleet vehicles, and certain small EVs ...
ASphotowed/iStock Editorial via Getty Images Toyota ( TM ) and Jaguar Land Rover have warned that the European Union's proposed "Made in Europe" rules could undermine investment, jobs, and competitiveness across the region's automotive sector, according to a Financial Times report. The concerns center on the EU's proposed Industrial Accelerator Act, corporate fleet vehicles, and certain small EVs to be assembled within the EU to qualify for public procurement contracts and subsidies. The plan would also mandate that at least 70% of a vehicle's components, excluding batteries, be sourced locally to be eligible for the incentives. Speaking at an Automotive News event in Brussels on Wednesday, Toyota Europe CEO Yoshihiro Nakata warned that excluding key international partners from the proposed "Made in Europe" rules could discourage future investment, threaten jobs, and limit technology transfers. Toyota ( TM ), operating eight plants across Europe and the UK has called for vehicles manufactured in Japan, the UK and Turkey to remain eligible for subsidies under the Industrial Accelerator Act. "Europe’s resilience is built not only on local production, but also on working with partners to create regional scale and shared success. By working together we are all stronger," Nakata said . Jaguar Land Rover, owned by India's Tata Motors , said the rules would require manufacturers to provide detailed evidence of component sourcing throughout their supply chains, adding administrative burdens and raising production costs.“The IAA layers incremental costs on to manufacturers and would make European cars more expensive,” JLR said . “It does nothing to address the underlying structural differences that make European manufacturing less competitive than China.” In support of the initiative, the European Commission said the proposals covering corporate fleets and small electric vehicles are "key initiatives in support of our green transition" and that these goals can only be achiev...
Elon Musk is expected to appear virtually at an event by computer chip equipment giant ASML on Thursday to discuss Terafab, his plan for a massive chipmaking plant to supply Tesla and IPO-bound SpaceX. The pricing of the initial public offering of Musk's SpaceX, potentially the largest ever, is expected later on Thursday. "Musk will share his vision on AI, robotics, space, and semiconductor man...
Elon Musk is expected to appear virtually at an event by computer chip equipment giant ASML on Thursday to discuss Terafab, his plan for a massive chipmaking plant to supply Tesla and IPO-bound SpaceX. The pricing of the initial public offering of Musk's SpaceX, potentially the largest ever, is expected later on Thursday. "Musk will share his vision on AI, robotics, space, and semiconductor manufacturing," an ASML spokesperson said in a statement.
SpaceX (NASDAQ: SPCX) stock is set to launch on Friday at $135 per share in what's almost certainly going to be the biggest initial public offering ever. The stock is being heavily marketed through the company's roadshow and its IPO partners, including the underwriting investment banks and several online trading platforms. If everything goes as planned, many SpaceX employees might become millionai...
SpaceX (NASDAQ: SPCX) stock is set to launch on Friday at $135 per share in what's almost certainly going to be the biggest initial public offering ever. The stock is being heavily marketed through the company's roadshow and its IPO partners, including the underwriting investment banks and several online trading platforms. If everything goes as planned, many SpaceX employees might become millionaires overnight, and Elon Musk could become the world's first trillionaire. But what about retail investors? At $135 a pop, is this a stock to consider? Image source: Getty Images. Continue reading