The initiative was triggered by the EU being upset about not having any major consumer tech companies, because they don't realize their regulations are what stifles innovation in the EU.
Case in point, we're all stuck with USB-C now for all eternity because even though it was clear Apple was moving in that direction, they weren't moving fast enough for the EU, and now USB-C is mandated and it's not going to be worth developing a better alternative. Thank god they at least waited until after micro-usb went away.