The European car industry is currently in ruins. Now the EU must help the industry. European car regions with a joint statement.
From the corona pandemic to the failure of entire supply chains and skyrocketing energy prices: the automotive industry is currently staggering from one crisis to another. The announced end to combustion engines in Europe marks something of a turning point for the entire industry.
All these challenges were on the agenda last week in Pamplona, Spain. Europe’s major automotive regions held conferences there; the Styrian Minister of Economic Affairs Barbara Eibinger-Miedl (ÖVP) was there in Navarra.
“Appropriate preconditions are needed”
“About a fifth of Styria’s gross regional product is generated in the automotive industry. We must therefore ensure that this sector remains competitive in the future. For this we need the right preconditions from the EU,” Ebinger-Miedl explains. In a joint statement, the regions therefore call on the (future) European Commission to take action. This includes, for example, making appropriate financial resources available to support companies with investments, and due to the changed requirements, qualification programs for employees also need to be created.
With approximately 40,000 employees in 2,204 companies and an annual turnover of eleven billion euros, the automotive industry is the most important economic factor in Styria. If nothing is done, the ACstyria mobility cluster in Styria alone risks losing 8,000 jobs by 2040, according to a study by the Technical University of Graz.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
