German Economy Ministry holds summit with stakeholders to discuss car industry crisis

German Economy Minister Robert Habeck is holding consultations with stakeholders in the car industry today, Monday, during what is called the “Car Summit”, in light of the crisis facing the German car industry.

Representatives of the German Association of Automobile Manufacturers (VDA), the metalworkers’ union (IG Metall), and major manufacturers such as Volkswagen, BMW, and Mercedes are participating in the summit, which will be held via video.

Many demands were made before the meeting to stimulate the sharply declining demand for electric cars in particular, and it is not yet clear whether concrete measures will be taken at the “Car Summit”.

German car manufacturers are suffering from weak sales figures and high costs related to the transition to electric cars.

Electric car sales collapsed in Germany after the government stopped providing support for them.