Reported about 4 hours ago
Germany’s automotive sector is experiencing a significant downturn, with companies like Porsche reporting declining sales amid increased competition from Chinese electric vehicle manufacturers and challenging market conditions in the U.S. and Europe. Despite investments in battery technology and plans for new EV models, companies are cutting jobs and reducing production. The situation poses risks to Germany’s manufacturing reputation and economic stability, prompting government discussions on support measures. Auto executives are pressing for solutions while the government attempts to provide financial incentives for zero-emission vehicles, but the impact of these efforts remains uncertain.
Source: YAHOO