Facing ever-increasing competition from Chinese automakers, European auto manufacturers are exploring ways to drastically reduce having to pay for licenses for their use of critical technology standards–—such as in-vehicle 5G or Wi-Fi—that are required for modern cars. And it looks like the European Union will let them get away with not paying, to the detriment of innovators around the world, including the U.S.
Licensing royalties for technologies such as 5G or Wi-Fi compensate innovators for use of those important technologies and also support continued advancements of those technologies, which ultimately benefit both auto manufacturers and consumers. Contributors to these technology standards are located in countries across the globe. Although the EU has frequently voiced its support of the innovation economy, recent EU actions on innovation appear to discourage it.
