Nah, Swedish aerotech already out matches both Russia in terms of production capacity, arguably 6th if you ignore stealth, weapons range and weapons reliability. And already beats China in terms of technology, they're just now producing 5th gen airframes with copied tech, where Sweden isn't just following.
The EU without the US can already produce 5th gen, the selling point of the F35 was 6th gen compatible with 7th gen (NGAD).
Russia is still flying more 4th then 5th gen fighters, because they can't get their bricks off the ground. Why would the EU want to copy the same mistakes of their enemy?