Reported 29 days ago
A recent study reveals that the transformation of the German car industry, largely driven by the shift to electric vehicles, could lead to 186,000 job losses by 2035, with 46,000 already lost from 2019 to 2023. The VDA auto industry association highlights increasing electricity prices, tax rates, and regulatory burdens as factors diminishing Germany's competitiveness. Volkswagen has indicated potential factory closures and significant staff layoffs if these issues are not addressed, emphasizing the need for a competitive environment to preserve and create jobs in the country.
Source: YAHOO