She said Volkswagen Earlier this month it said it needed a major restructuring to maintain its competitiveness, and was considering closing factories in Germany For the first time in its history since its establishment 87 years ago.
The announcement stunned employees and heightened concerns about Germany’s leading auto industry, as the country grapples with rising costs, increasing competition from China and weak demand for electric vehicles.
“The majority of the tasks must be taken care of by Volkswagen itself,” Habeck said during a visit to the Volkswagen plant in Emden in northwestern Germany.
He declined to comment on media reports that thousands of jobs could be at risk at Volkswagen, saying he “cannot interfere” in company policy.
But Habeck said politicians could help the auto sector by looking for ways to send the right “market signals”, and made no mention of any possible government aid for Volkswagen.
He specifically pointed to efforts to boost demand for electric vehicles, insisting that electric cars are “the future.”
Sales of battery-powered cars in Germany have fallen this year after the government phased out subsidies, a setback for automakers that have invested heavily in moving away from fossil fuels.
Habeck pointed out that Berlin It recently laid out plans for new tax breaks for electric car companies to help turn the tide.
On Monday, the minister will hold a high-level meeting with representatives of the auto industry and unions to discuss the sector’s problems.
Underscoring the current challenges for automakers, Mercedes-Benz on Thursday cut its 2024 outlook on weak sales in the key Chinese market.
German rival BMW also cut its profit forecast earlier this month, also citing weak demand in China.
