Slowing orders and the electrification transition prompts tier ones to trim back on investment, a DIHK study finds
A survey conducted by the German Chamber of Commerce and Industry (DIHK) has revealed that more than half of Germany’s automotive suppliers are planning to cut jobs.
The study found that, faced with declining orders and the automotive industry’s transition to electric drives, automotive suppliers are looking to cut back on investment.
Other factors cites by respondents were the growth and potential of automation and the fewer components required for electric drive production compared with conventional powertrains.
DIHK CEO Martin Wansleben said the survey had unveiled a bad situation for Germany’s automotive industry…
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