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German auto-industry’s electrification ambitions falter amidst supplier bankruptcies, layoffs

Automotive

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© Provided by Xinhua
This photo taken on March 20, 2024 shows the logo of Mercedes-Benz in Stuttgart, Germany. (Xinhua/Shan Weiyi)

Germany, a major player in the global automotive industry, is witnessing a surge in bankruptcies and layoffs among its suppliers.

by Xinhua writer Li Hanlin

BERLIN, Aug. 14 (Xinhua) — German seat manufacturer Recaro Automotive, known for supplying luxury brands like BMW, Mercedes-Benz, and Lamborghini, has filed for bankruptcy amid a wider trend of German automotive component suppliers facing financial challenges.

Germany, a major player in the global automotive industry, is witnessing a surge in bankruptcies…



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