European automotive supplier body, CLEPA, says talks between the European Union and the US could save between EUR5bn - EUR10bn in investment costs if successful.

Addressing delegates at today's (12 June) Automotive News Europe Congress in Paris, CLEPA CEO, Jean-Marc Gales outlined some of the benefits of such so-called 'smart regulation' as the two trading blocks enter discussions.

"One of the things with the trans-Atlantic treaty we are discussing with the US, is regulations between the EU and the US are coming," said Gales. "That alone could save our companies [between] EUR5bn and EUR10bn a year of investment."

As well as block agreements Gales also emphasised the role CLEPA's 106 members - "we are the fastest growing association in Brussels" - had in promoting manufacturing technology in Europe.

"We need this manufacturing capability," said Gales. "Without manufacturing capability in Europe, we will lose our edge.

"I am not as pessimistic as some people because the automotive industry is a growth industry. We can only maintain our position if we are better.

"What this industry needs in Europe is a clear vision into the future. That is absolutely fundamental."

The CLEPA CEO also insisted the 95g goal of CO2 by 2020 was "feasible" at an affordable cost and that the internal combustion engine would continue to improve in an environment of many powertrain options.

"There will be a multitude of solutions," he said.

Gales noted there were around 140,000 science, technology and mathematics students graduating in Europe every year and contrasted this with the number coming out of some emerging countries.

"There are around 700,000 in India," he said.