EU chief launches new initiative to help struggling carmakers – ET Auto

Autobayng News TeamNovember 28, 2024040 views

This will bring key sector players around the table “to design solutions together as this industry goes through a deep and disruptive transition”, she said.

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This will bring key sector players around the table “to design solutions together as this industry goes through a deep and disruptive transition”, she said.

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This will bring key sector players around the table “to design solutions together as this industry goes through a deep and disruptive transition”, she said.

EU chief Ursula von der Leyen announced Wednesday she will personally lead a new initiative to help Europe’s troubled car industry steer through “a deep and disruptive transition” that already has thousands of jobs on the line.

The European Commission president listed salvaging Europe’s automotive sector among the priorities of her second term, which she said will focus on relaunching the European Union’s economic competitiveness.

“Europe’s car industry is a European pride. Millions of jobs depend on it,” she told EU lawmakers gathered in Strasbourg to greenlight her new team.

“We have to make sure that the future of cars will continue to be made in Europe”.

To that end, von der Leyen, 66, said she will convene a “strategic dialogue on the future of the car industry” in the EU.

This will bring key sector players around the table “to design solutions together as this industry goes through a deep and disruptive transition”, she said.

Europe’s car industry has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles (EV) and increased competition in key market China.

EV sales have been slower than expected at a time when carmakers are contending with tougher EU rules on carbon emissions.

German car giant Volkswagen is seeking to push through a major cost-cutting drive, and has warned it might close factories in Germany for the first time in its history — just one of a string of announced cuts by auto manufacturers and suppliers.

Last month EU countries approved the imposition of hefty import tariffs on Chinese-made EVs alleging that Beijing’s state aid to auto manufacturers undercut European carmakers.

The EU parliament on Wednesday approved von der Leyen’s new commission with 370 votes in favour, 282 against and 36 abstentions.
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Updated On Nov 28, 2024 at 11:56 AM IST

This will bring key sector players around the table “to design solutions together as this industry goes through a deep and disruptive transition”, she said.

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