German Chancellor to Host Auto Summit to Address Industry Crisis
Facing a deep crisis in the German automotive industry, Federal Chancellor Merkel plans to host an auto summit on October 09. It is expected that multiple ministers, governors of federal states with automotive industries, major manufacturers and suppliers, as well as employee representatives will attend this summit.
The German News Agency (DPA) learned from government sources about the news that Federal Chancellor Merkel will soon host an auto summit.
Merkel announced the news of holding this summit after a meeting of the coalition committee at the beginning of September.
The German automotive industry is facing a decline in sales, competition from China, and difficulties in transitioning to electric vehicles. In addition, there are tariff disputes with the United States.
Many companies are implementing austerity measures, reducing jobs or shifts. Whether it is Volkswagen, Mercedes-Benz, BMW, Porsche, or Audi, they have recently reported declining profits, with some companies experiencing very significant declines in profits.
Automotive supplier Bosch again announced on Thursday, September 25, that it plans to lay off 13,000 more employees.
Source: DW
Original: www.toutiao.com/article/1844552947978441/
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