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Green Madness: EU Climate Targets Threaten 100.000 Volkswagen Jobs

Spiegel Online

Volkswagen, Germany’s most important carmaker, has intervened in the discussion about EU plans for new CO2 targets. VW boss Herbert Diess has issued a sharp public warning and predicts dramatic job cuts in Europe’s car industry.

Within the next ten years, according to him, about 100,000 jobs would have to be eliminated at VW alone, should EU environment ministers not abandon their plan to lower CO2 emission limits for cars by 35 percent. VW currently employs about 400,000 people in the EU. According to Diess a quarter of these jobs could be affected.

“The transition in speed and impact is almost impossible to manage,” Diess told “Süddeutsche Zeitung”. He added: “The car industry could crash faster than many believe.”

Full story (in German)