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EU chief Ursula von der Leyen held talks with industry leaders in Brussels in a show of support for a sector that employs 13 million people and accounts for about seven per cent of Europe’s GDP — amid a broader push to revive the continent’s competitiveness. “The European automotive industry is at a pivotal moment, … Read more
VW brand boss: layoffs, plant closures needed to fix carmaker’s problems By: Reuters | Updated on: 23 Nov 2024, 10:02 AM As stated by CEO Thomas Schaefer, Volkswagen plans to cut 4 billion euros in costs through layoffs and plant closures. Unions are pushing back, threat … As stated by CEO Thomas Schaefer, Volkswagen plans … Read more
Electric car sales falling world over, leaving carmakers in shock. Here’s why By: HT Auto Desk | Updated on: 03 Nov 2024, 08:51 AM The electric vehicle market is experiencing slowed growth, prompting major global brands to adjust production. Factors such as stiff Chinese competiti … The electric vehicle market is experiencing slowed growth, prompting … Read more
Germany urges compromise in EU-China EV row By: AFP | Updated on: 02 Nov 2024, 10:02 AM The German automotive sector condemned recent tariffs, seeing them as harmful to trade and employment. Germany voted against the extra tariffs and is urging both Beijing and Brussels to come to a compromise. (AFP) The German government on … Read more
Chinese EV makers see EU sales slump as tariff row deepens By: Bloomberg | Updated on: 01 Nov 2024, 16:28 PM Chinese brands lost market share amid new tariffs, with MG experiencing a 42 per cent drop. BYD thrived, recording a 162 per cent increase in registra … Chinese brands lost market share amid new … Read more
VW labour chief sounds alarm on mass layoffs and three German plant closures Europe’s biggest carmaker has been negotiating for weeks with unions over plans to revamp its business and cut costs, including considering plant closures on home soil for the first time, in a blow to Germany’s industrial prowess. Volkswagen reiterated on Monday that … Read more