2024-09-20 17:55:08
Automotive
Economy
Technology

Economic Turmoil Hits VW Amidst E-Mobility Transition

Image courtesy of : AFP (MORITZ FRANKENBERG)

Germany's auto industry faces significant upheaval as Volkswagen (VW) grapples with weak electric vehicle (EV) sales and a complex transition towards e-mobility. Economic Minister Robert Habeck has called for an auto summit to address these issues, urging the preservation of jobs and plant locations.

VW is considering cutting up to 30,000 jobs, with plants in Dresden and Emden among those at risk. The company is also reducing investments and reevaluating its operational costs to cope with declining demand for EVs.

This situation has led to tense negotiations with workers' unions like IG Metall, who oppose the potential job cuts. Habeck is pushing for new incentives and tax benefits to stimulate EV sales, hoping to avert factory closures.

The broader auto industry, including suppliers like ZF and other manufacturers such as Ford, is similarly affected, with job reductions and plant closures looming. Habeck's summit aims to find solutions to this crisis, balancing environmental goals with economic stability.

The outcome of these discussions is crucial for the future of Germany's automotive sector and its workers.

rp_online
19. September 2024 um 18:48

Car: Habeck Invites to Auto Summit - Concerns About Jobs at VW

Economy
Habeck invites the auto industry to a summit; the auto industry suffers from weak electric car sales; VW plans to cut up to 30,000 jobs; IG Metall is negotiating with VW; supplier ZF is cutting 14,000 jobs; VW is considering plant closures and layoffs for operational reasons; VW's CFO Antlitz is reducing investments; Lower Saxony is VW's second-largest shareholder; VW CEO Blume considers job cuts realistic; Ford is closing its plant in Saarlouis, and Audi's plant in Brussels and VW's Transparent..
Frankfurter Rundschau
20. September 2024 um 14:40

Habeck calls for summit

Economy
Politics
Environment
Technology
Economics Minister Habeck invites the automotive industry to an "automotive summit"; discusses new e-car subsidies; warns Volkswagen against "cold-heartedly" laying off employees; the industry is struggling with weak e-car sales, threatening penalties due to CO2 targets; Volkswagen plans to cut jobs in Germany; the industry association VDA presents a ten-point plan; BMW and Mercedes are lowering their profit forecasts due to weak demand in China; Habeck had previously scrapped the purchase bonus..
noz
20. September 2024 um 12:11

Habeck demands a clear line from VW: No plant closures and solve problems themselves

Economy
Politics
VW is threatened with plant closures; Economics Minister Habeck demands the preservation of the sites and the solution of the problems by VW itself. Habeck announces new funding measures for electric cars, but does not promise any concrete state aid.
EuroNews
20. September 2024 um 15:23

Volkswagen Denies Reports of Cutting Up to 30,000 Jobs

Economy
Politics
Volkswagen denies reports of cutting up to 30,000 jobs; plans to reduce investments to 160 billion euros; suffers from weak sales of electric vehicles, worsened by the cessation of the subsidy program; Economy Minister Habeck wants to help VW avoid plant closures but emphasizes that the company must solve its own problems and review its cost structures; Habeck announces an automotive industry summit for next week.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!