January Start For EU Chief Initiative To Help Embattled Carmakers [Barron's]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Barrons
Von der Leyen, who has listed salvaging the automotive sector among the priorities of her second term, first announced a "strategic dialogue" bringing together key sector players in November. "We need to support this industry in the deep and disruptive transition ahead. And we must ensure that the future of cars remains firmly rooted in Europe," the 66-year-old European Commission president said. Europe's car industry has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles (EV) and increased competition in key market China. EV sales have been slower than expected at a time when carmakers are contending with tougher EU rules on carbon emissions. Layoffs have already been announced at a raft of auto giants and suppliers in Germany and elsewhere in the EU, from Volkswagen and Ford to Bosch, Valeo and Michelin. The dialogue will bring around the table carmakers, infrastructure providers, trade unions and others to come up with recommen
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