Germany, France agree on deal to support Europe's struggling car industry
The two countries said the agreement aimed to safeguard Europe's automotive industry, encouraging development and research. Car makers in Europe have so far struggled to compete with Chinese electric car companies.
Germany and France have reached an agreement to bolster their automotive industry, focusing on reducing CO2 emissions and promoting the creation and manufacturing of electric vehicles across the continent. The collaborative effort aims to effectively transform the automotive sector while adhering to environmental goals and guaranteeing the production of future cars within Europe.
The nations emphasized their joint commitment to successfully transitioning their automotive industry, preserving climate objectives, and ensuring the creation of future vehicles remains centered in Europe. The deal also provides incentives for investment, research, and production. European car manufacturers have encountered difficulties competing with Chinese rivals in the electric vehicle sector, leading to cost-reduction strategies.
Lower Saxony's Premier, Olaf Lies, praised the agreement as a "strong signal" supporting Europe's car industry and safeguarding jobs within the sector. Lower Saxony serves as the home to German automotive giant Volkswagen's headquarters in Wolfsburg, and Lies holds a position on Volkswagen's supervisory board.
Written by urgent.news from DW News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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