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German car industry transformation could cost 186,000 jobs by 2035, study finds

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German car industry transformation could cost 186,000 jobs by 2035, study finds

BERLIN - The transformation of the German car industry could lead to 186,000 jobs losses by 2035, of which roughly a quarter have already occurred, a study commissioned by the VDA auto industry association released on Tuesday showed.

In its report, the VDA points to the loss of competitiveness in Germany due to the high price of electricity, tax rates and increasing red tape.) is threatening to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants, according to the company's works council.

 

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