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Economy
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EU Automotive Industry Faces Job Crisis
2024-09-14 05:50:08
Automotive
Regulation
Business

EU Automotive Industry Faces Job Crisis

An internal document from the EU automotive sector reveals alarming concerns about potential job losses and substantial fines. As stringent CO2 emission limits are set to decrease to 93.6 g/km by 2025 and 49.5 g/km by 2030, the industry fears it may have to halt the production of over 2 million internal combustion engines.

This drastic measure aims to avoid penalties amounting to billions. In response, the automotive association ACEA advocates for an emergency article to delay the implementation of these regulations by two years.

Without this postponement, the industry's ability to comply with the new standards and protect millions of jobs remains in jeopardy.

Related news on that topic:

MEPs Split on Halting European Car Factory Closures

As Europe's carmakers struggle with a sales slump in electric vehicles and competition from China, the closure of German plants by Volkswagen and the risk to Audi's Brussels EV factory loom. The EU automotive sector, employing 14 million people and contributing 7% of GDP, faces division among MEPs. The EPP's Bentele advocates for flexibility on EU carbon rules, while Renew's Glück opposes tech mandates. Greens' Matthieu claims the industry resists e-mobility, and socialist Ecke blames carmaker management. Swedish MEP Eriksson welcomes the Draghi report, criticizing the lack of EU planning in the sector. Calls for national EV incentives, investment in charging infrastructure, and protection from foreign subsidies are also made.

Automotive Industry Faces Major Job Cuts

Volkswagen is poised to implement significant job cuts, with plans to close 2-3 plants and eliminate over 15,000 positions due to a drastic decline in vehicle sales across Europe. Analysts predict that the company may incur provisions of up to 4.4 billion euros to address this excess capacity. The decision has sparked backlash, particularly from labor representatives who are determined to fight against these layoffs. Similarly, Continental is also restructuring its automotive division, potentially impacting jobs in Baden-Württemberg, while ZF Friedrichshafen anticipates reducing up to 14,000 jobs by 2028 in Germany. The automotive sector is clearly grappling with critical challenges as it navigates a shrinking market.

Read 4 more recent news on this topic

The press radar on this topic:

gmx
14. September 2024 um 03:03

Internal Paper: EU Auto Industry Fears Millions of Jobs

Economy
Environment
Internal Paper: EU Auto Industry Fears Millions of Jobs
An internal paper from the EU auto industry warns that the industry cannot meet the tightened EU climate targets. The current limit of 115.1 g CO2/km is to be reduced to 93.6 g/km by 2025 and to 49.5 g/km by 2030. This will lead to penalty payments in the billions. To avoid this, the production of over 2 million cars with combustion engines would have to be discontinued, which would jeopardize millions of jobs. The industry is therefore calling for a two-year postponement of the introduction of..
tz
14. September 2024 um 03:02

Internal Paper: EU Automotive Industry Fears Millions of Jobs

Economy
Politics
Environment
Internal Paper: EU Automotive Industry Fears Millions of Jobs
An internal paper from the EU automotive industry, which is available to the German Press Agency in Brussels, warns of millions of job losses and billions in fines due to tightened CO2 emission limits, which are to be reduced to 93.6 g/km by 2025 and 49.5 g/km by 2030. To avoid fines, the production of over 2 million internal combustion engines could be discontinued. As a solution, an emergency article is proposed that would allow a two-year postponement of the introduction. The paper is known..
CW

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