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Herbert Diess Fears Additional Bankruptcies And Job Losses In The Auto Industry

Herbert Diess fears additional bankruptcies and job losses in the auto industry if the EU Commission were to tighten the CO2 requirements.

Herbert Diess Fears Additional Bankruptcies And Job Losses In The Auto Industry
Yazar: Tom Roberts

Yayınlanma: 21 Eylül 2020 01:07

Güncellenme: 7 Kasım 2024 10:06

Herbert Diess Fears Additional Bankruptcies And Job Losses In The Auto Industry

Volkswagen boss Herbert Diess fears additional bankruptcies and job losses in the auto industry if the EU Commission were to tighten the CO2 requirements for car manufacturers. "A faster transformation also means that more jobs and entire companies come under pressure or are lost in certain areas," said the top manager of "Welt am Sonntag". If you want to achieve change more quickly, the right framework conditions are necessary, said Diess. "As long as the diesel price is at a long-term low at just one euro per liter, it will be difficult." Diess' predecessor Matthias Müller brought the abolition of the tax advantage for diesel fuel into play at the end of 2017. The auto industry has to adjust to stricter limits on carbon dioxide emissions by 2030. EU Commission head Ursula von der Leyen had proposed as a new EU climate target to reduce greenhouse gas emissions in the Union by at least 55 percent below the 1990 level by 2030 - instead of the 40 percent previously targeted. This means that CO2 emissions from cars must also decrease more sharply. From the point of view of the industry expert Ferdinand Dudenhöffer, the tightening of the EU climate targets will hit the German auto industry less hard than feared. He expects that a maximum of 13,000 additional jobs will have to be cut as a result of the increased CO2 reduction targets in the industry, according to "WamS" from calculations by Dudenhoeffer. At the same time, however, new jobs would be created - possibly on a similar scale. Overall, Dudenhöffer expects that the transition to the electric car will result in the loss of around 100,000 jobs in the automotive industry by 2030. The more stringent reduction target is already included in this calculation.
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