Pole Position: UBS European & US Autos Daily

研报英文原文证据摘录

Pole Position: UBS European & US Autos Daily

Global Research

15 June 2026ab

Pole Position Equities

Europe including UKUBS European & US Autos Daily

Automobiles

Patrick Hummel, CFA

EU mass OEMs lobby for local content rules Analyst

In a joint letter sent to EU members, Volkswagen, Stellantis and Renault have reportedly patrick.hummel@ubs.com

called for 70% of vehicles sold in the EU to source 70% of their value from within the +41-44-239 52 54

EU, covering the full value chain from engineering to manufacturing. They called for David Lesne

measures to encourage European-based manufacturing, including targeted support for Analyst

battery production and greater regulatory flexibility, especially for small cars, to make david.lesne@ubs.com

EVs more affordable and support local supply chains. +33-14-888 3034

Joseph Spak, CFA

Our view: Analyst

In the current debate about the Industrial Accelerator Act (IAA), local content rules are a joseph.spak@ubs.com

+1-212-713 3089

key element. Key discussion topics include the scope of the regulation regionally (i.e.

whether the EU’s “friendly” trade partners should be treated the same as EU-made Juan Perez-Carrascosa

content) and product-wise (specific requirements for EV batteries, for which the EU Analyst

OEMs depend on China imports). The matter is complex, and the lobbying of the juan-perez.carrascosa@ubs.com

+34-91-436 9025

European auto companies is not fully aligned at this point. Generally, we think local

content requirements will likely lead to more brownfield investment (i.e. the use of Paul Gong

existing manufacturing facilities) by Chinese OEMs; this is expedited by a weaker Analyst

Chinese domestic market (declining volumes, lack of profitability) and the need to grow paul.gong@ubs.com

+852-2971 7868