European auto leaders are sounding the alarm, warning the EU’s drive for ‘tech sovereignty’ could cripple local businesses. CEOs from Volvo, Stellantis, and Volkswagen fear that cutting ties with US tech giants like Google and Microsoft will hike development costs and shrink markets. They urge deeper ties with American industry to counter China, advocating for free-market competition over government mandates for homegrown tech. European auto leaders are sounding the alarm, warning the EU’s drive for ‘tech sovereignty’ could cripple local businesses. CEOs from Volvo, Stellantis, and Volkswagen fear that cutting ties with US tech giants like Google and Microsoft will hike development costs and shrink markets. They urge deeper ties with American industry to counter China, advocating for free-market competition over government mandates for homegrown tech.
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Volvo CEO to EU: Europe will be loser if it cuts ties with Google, Microsoft and Amazon
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