Rising material costs and high energy prices are posing significant challenges for EU manufacturers in maintaining global competitiveness.

Electricity prices in Europe are currently 2-3 times higher than in the US, resulting in increased investment costs for EU manufacturers compared to their global counterparts.

Additionally, the global supply of critical raw materials is concentrated in a few regions, making the EU vulnerable to price fluctuations, supply chain disruptions, and potential geopolitical leverage. This underscores the urgent need for diversified supply chains and the establishment of new and existing trade relationships to boost critical raw material extraction and recycling within the region and beyond.

We advocate for a stronger alignment of policies with decarbonisation goals to enable Europe to lead the #techrace, ensuring a competitive and sustainable future for European manufacturers.