Nokia and peer tech CEOs urge European leaders to improve industrial competitiveness

Nokia CEO Justin Hotard, alongside the leaders of Airbus, ASML, Ericsson, Mistral AI, SAP, and Siemens, has issued a public call for EU stakeholders to address the continent’s declining competitive position. The intervention follows a meeting in Brussels with European Commission President Ursula von der Leyen, during which the executives highlighted the structural hurdles facing major European technology providers.

The coalition argues that Europe’s fragmented markets and rigid, complex regulatory frameworks stifle the ability of regional firms to compete with international rivals. The executives specifically pointed to the digital domain, noting that while Europe remains focused on prolonged regulatory debates, other regions have prioritized the scaling of AI and industrial robotics.

To bridge the gap, the leaders are calling for a simplification of digital rules and a revision of competition and M&A policies to facilitate the scale necessary for global market relevance. The group, representing companies with a combined market capitalization of roughly €1.1 trillion and nearly 1 million employees, emphasized that these policy adjustments are essential to maintaining Europe’s technological sovereignty.