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Scholz: Automotive industry will 'master the upheavals'
2024-09-07 09:00:08
Automotive
Business

Scholz: Automotive industry will 'master the upheavals'

Image courtesy of : AFP (TOBIAS SCHWARZ)

German Chancellor Olaf Scholz expresses confidence in the future of the automotive industry, despite the current crisis at Volkswagen. Scholz believes that the German automobile industry will remain a significant sector in the country's economy and will successfully navigate the upcoming changes, including the shift towards electric vehicles.

The government is taking steps to support the industry, such as improving tax conditions for electric company vehicles and expanding the number of charging stations. In the face of Volkswagen's announcement of a tougher cost-cutting plan, including possible factory closures and job losses, Scholz assures that the government stands with the employees and the industry, working towards securing jobs and maintaining the stability of the company.

Additionally, Hessen's Minister President, Boris Rhein, considers providing financial support to Volkswagen to help mitigate the impact of the crisis on the region's largest component plant and largest employer.

Related news on that topic:

VW Major Shareholders Called to Repay Dividends Amid Crisis

Volkswagen's major shareholders, including the Porsche-Piëch clan, are being urged to repay 4.5 billion euros in dividends to prevent plant closures and layoffs. The Left party leader criticizes the situation, arguing that employees and taxpayers should not bear the brunt of mismanagement. Volkswagen CEO, Oliver Blume, announced a cost-cutting program due to the difficult European car market and declining competitiveness. The crisis at Volkswagen, a vital company for Germany's economy, could have broader implications. Factory closures and job cuts are being considered to save 10 billion euros, with workers protesting against the plans. The company's failure to adapt to electric vehicles and the economic downturn in the car market contribute to the crisis. The government's green agenda has also impacted domestic car sales. Concerns over the lack of future security for new recruits and a sense of doom and uncertainty among workers have been reported. The company's reputation suffered from the 'dieselgate' scandal and the loss of local business taxes. Volkswagen's inability to produce an affordable entry-level electric car in Germany further adds to the challenges it faces.

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Read 23 more recent news on this topic

The press radar on this topic:

AFP
6. September 2024 um 14:21

Scholz: Automotive industry will "master the upheavals"

Economy
Politics
Environment
Technology
Chancellor Olaf Scholz is confident that the German automotive industry will master the upcoming upheavals. To support the industry, the cabinet has decided to improve the tax conditions for e-company cars and the depreciation options for companies when purchasing such vehicles. In addition, the expansion of the charging infrastructure is being pushed forward. Despite the crisis at Volkswagen, where the core brand has announced a tougher austerity program with possible plant closures and layof..
Frankfurter Rundschau
7. September 2024 um 04:02

Rhein does not rule out subsidies for Volkswagen

Economy
Politics
The Prime Minister of Hesse, Boris Rhein (CDU), does not rule out financial aid for the struggling automaker Volkswagen. Kassel is the world's largest component plant of the Volkswagen Group, whose crisis is affecting Hesse. Rhein speaks of a "real economic crisis" and is considering support.
gmx
7. September 2024 um 04:03

Rhein does not rule out subsidies for Volkswagen

Politics
Economy
The Prime Minister of Hesse, Boris Rhein (CDU), does not rule out financial aid for the struggling automaker Volkswagen. Kassel is the world's largest component plant of the Volkswagen Group and the largest employer in Northern Hesse. Rhein also commented on refugees and called on the traffic light coalition to stop the "uncontrolled influx at the borders".
t-online
7. September 2024 um 05:26

Volkswagen in Crisis: Boris Rhein Wants to Support VW with Subsidies

Economy
Politics
VW Group in crisis; Hesse's Prime Minister Rhein considers financial aid; Kassel is VW's largest component plant; Jobs in Northern Hesse are threatened.
CW

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