In order to overcome the economic crisis and return to growth, European industry needs to become more innovative and eco-efficient, for example by developing electric cars. With this in mind, a fresh approach to industrial policy was discussed on 1 March by the Competitiveness Council.

The situation in various sectors hit by the recession remains challenging. In order for Europe to regain sustainable growth, the modernisation of industrial strategy should focus on structural reinforcement of the economy. It is important to achieve a successful transition to a competitive economy based on innovation and capable of turning environmental imperatives into business opportunities and new jobs.

One example of promising industrial applications that rely on research and innovation and which can benefit businesses, consumers and the environment alike is the development of green vehicles, such as electric cars and plug-in hybrids. That is why ministers called on the Commission to come forward with an action plan for clean and energy-efficient vehicles, something that commissioners have suggested at other times. The plan should look into the improvement of technological performance and the development of the necessary infrastructure in Europe for new mobility technologies.

At the meeting of European ministers chaired by Miguel Sebastián, the EU-27 representatives emphasised the need to coordinate a common industrial policy to end the recession and requested the European Commission conduct an analysis of the situation over the current year.

The Commissioner for Industry, Antonio Tajani, announced that on 26 Abril, a high level meeting would be held on the development of this new industrial policy, and the European Commissioner for the Internal Market and Financial Services, Michel Barnier, assured that he is working towards the complete transposition of the Services Directive, the application of which will mean an additional annual growth of 1.5% in the EU's GDP.  The Spanish Minister of Industry insisted on defending the electric vehicle over other "green" cars and the need for coordinating the launch among all the European countries to develop joint standards for both recharging and safety.