EU – Stimulating car industry

The European Union on Thursday launched an action plan to bolster the struggling car industry – its first concerted response to a worsening crisis that is hurting some of the continent’s biggest companies and endangering tens of thousands of jobs.

Carmakers welcomed the plan’s long-term measures to support the sector but urged the EU to take “real action” immediately and marshal its resources to help them as they embark on deep restructurings.

Antonio Tajani, industry commissioner, described the measures as the first concrete steps by the EU to promote competitiveness for an industry that supports 12m jobs in Europe.

The strategy, dubbed Cars 2020 and the evolution of a plan formed in 2005, includes proposals to promote investment in new technologies and clean vehicles, streamline regulation, support skills and training and help carmakers to compete globally, including through “balanced trade deals”…

Choosen excerpts by JMM from

via EU tries to bolster car industry – FT.com.