The big test for Volkswagen will come in 2026, when it tries to play catch-up in electric vehicles with four models. And Germany’s rally looks like it has legs.
Air defence radar maker Hensoldt offers to hire laid off engineers from Bosch and Continental as automotive job cuts rise
For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers, according to details disclosed by company sources.
A new report claims Chinese carmakers are interested in buying Volkswagen's factories in Germany, but this could be only a pipe dream of a company in distress
Car giant VW to wind down production at 2 factories; China could buy factories for foothold in Germany. Read more at straitstimes.com.
The country is focused on exports, but China is slowing imports and U.S. tariff threats are growing. Politicians are offering few alternatives.
The European Union’s largest economy, Germany, is experiencing a deindustrialisation trend due to factors such as high energy costs, unhelpful government policies and investment shortfalls. The country’s fading industrial competitiveness isn’t likely to improve soon,
Volkswagen ( OTCPK:VLKAF) ( OTCPK:VWAGY) has discussed with Chinese partners such as SAIC, FAW Group, JAC Motors, and XPeng ( NYSE: XPEV) the possibility of the companies investing in plants in Germany, according to Chief Executive Oliver Blume.
The Czech Republic, also known as Czechia, has built its post-Cold War economy in the same way Germany did post-reunification: with a focus on industry. Manufacturing as a share of GDP has hovered above 20% in the country for the last 30 years, joining Germany in bucking the Western trend of deindustrialization.
German industry has for years called out high energy prices and poor economic policies for making them uncompetitive. A coalition of SMEs is now saying enough is enough.
Germany's unemployment rate rose at the start of the year, despite a smaller than expected increase in the number of people out of work, as the weakness of Europe's biggest economy took its toll on the labour market.
Workers in Germany's manufacturing sector, where output is a long way from its prepandemic peak, appear to be bearing the brunt. Major industrial firms such as Thyssenkrupp and Bosch have said in recent months they would lay off workers, while car giant Volkswagen said it would reduce its workforce by 35,000 by 2030.