欧盟层面正在在短期资本流入与战略依赖之间取舍。欧洲对中国直接投资在七年低潮后回温，最新一年新增工厂投资几近12亿美元，较2022年增加约三倍，且多集中于中国具技术优势的清洁能源、电动车与电池领域；绿地投资主要流向匈牙利，包括 Evoring Precision Manufacturing 在二月宣布的1亿欧元电动车齿轮与驱动轴工厂。欧盟工业基础仍在收缩，制造业占GDP比重从2000年的17.4%降至14.3%。
欧盟的「工业加速法案」（Industrial Accelerator Act）成为一种受控接纳模式：若投资方来自全球制造能量超过40%的国家，且战略行业（电池、电动车、太阳能电池、关键原料开采与加工）单笔投资超过1亿欧元，成员国可否决。符合条件者须至少一半雇用欧盟劳工，并通过五项条件中的至少三项，包括成立合资、外方持股不得超过49%、处理智慧财产授权；并要求在欧洲将营收的1%投入研发及来源自欧盟的投入占30%，才可获得公共资金。欧洲企业主管认为条件可能抑制创新，但学者与执行者也警告执行风险，例如匈牙利以双边条约把部分投资排除监管。
Bosch’s former Navarre dishwasher plant outside Pamplona is now idle after it shut down because it lost market share to cheaper Chinese factories, leaving more than 600 jobs gone. Spain has therefore moved to court Chinese investors to fill the gap. After more than two years of outreach, Hithium announced a €400 million battery plant in Navarre that is expected to create 700 jobs, most likely as a joint venture. Hithium had opened a Dallas facility in 2023 under incentives tied to the Inflation Reduction Act (IRA) under U.S. President Joe Biden, but Donald Trump’s partial repeal of IRA provisions pushed Chinese firms to shift interest back toward Europe.
At EU level, policy is balancing short-term capital against strategic dependence. Chinese FDI in Europe, after a seven-year slump, has rebounded, with new factory investment in the latest year almost reaching $12 billion, about three times the 2022 level, mostly in sectors where China has a technological edge—clean energy, electric vehicles and batteries. A large share of this greenfield activity landed in Hungary, including Evoring Precision Manufacturing’s €100 million EV gear and axle plant announced in February. Europe’s industrial base is still shrinking: manufacturing fell from 17.4% of EU GDP in 2000 to 14.3%.
The EU’s Industrial Accelerator Act (“Made in Europe” framework) is a managed-acceptance approach. For strategic sectors dominated by countries with over 40% of global manufacturing capacity, member states can block projects above €100 million in sectors such as batteries, EVs, solar panels and critical raw materials. Eligible projects must employ at least 50% EU workers and satisfy at least 3 of 5 conditions, including a joint-venture structure and foreign ownership capped at 49%. They are also expected to spend 1% of revenue on EU R&D and source 30% of inputs from the bloc to access public funding. Critics argue this may deter innovation, while observers also warn of enforcement gaps, such as Hungary’s use of bilateral agreements to sidestep parts of EU review.