Germany's auto industry struggles with electrification transition, causing bankruptcies, layoffs, and supplier employment decline.

Germany's auto industry struggles as transition to electrification causes bankruptcies and layoffs among suppliers. Rising costs, economic downturn, and consumer hesitancy due to the end of EV subsidies contribute to the challenges. Despite this, major companies like Bosch, Continental, and Infineon invest in EV production and digitalization to adapt. Employment in the German auto supplier industry is predicted to decline from 270,000 to 200,000 by 2030.

August 14, 2024
4 Articles

Further Reading