EU VDL State of the Union -- Managing Decay | 40 comments (40 topical, editorial, 0 hidden)

Re: EU VDL State of the Union -- Managing Decay (none / 0)

From Cat's post Re: Reactionary Visions and eNtiTiES

..."We don't want to see Chinese electric vehicles benefiting from our climate policies," [EPP-CSU leader Manfred] Weber told MEPs after von der Leyen's annual address. "We have to activate our trade defense instruments to avoid another solar panel attack [sic] ..."

Green Party Bobo Annalena Baerbock ...

VW is cutting jobs at its German EV factory because demand is plunging | Fortune - 2 hrs ago |

German Federal Foreign Minister Annalena Baerbock visits the Volkswagen booth at the 2023 IAA Mobility car show. (Photo credit: Leon Kuegeler--Photothek via Getty Images)
Volkswagen is having a tough time selling enough mostly made-in-Germany electric cars to challenge Tesla Inc.'s global dominance. Lackluster economic growth as well as higher energy, living and borrowing costs in Europe have weighed on demand for its ID fleet of EVs.
The company hired around 2,700 temporary workers at the Zwickau facility near the Czech border to meet expected surging EV demand. But orders from corporate clients -- which account for around 70% of the IDs built at the plant -- have been plummeting since a federal subsidy for battery-powered company vehicles expired this month, one of the people said.
A spokesperson for Volkswagen declined to comment.
At the same time, Volkswagen is following Tesla, BMW AG and others in exporting an EV from lower-cost China to Europe. Its Cupra brand has announced plans to produce the Tavascan SUV at a factory in Anhui. Built on the same hardware and software platforms as the ID series, the model is due to hit the European market in 2024.

Amnesia and Gaza Genocide

by Oui on Thu Sep 14th, 2023 at 01:51:05 PM EST

Volkswagen Downsizing German EV Production (none / 0)

Lack of subsidy as government ends grants for "normal" buy of futuristic EV's

Just some weeks ago ...

Canada and Volkswagen together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country's electric-vehicle supply chain | Reuters - April 2023 |

Volkswagen Subsidy to Cost Canada C$2.4 Billion More Than Forecast | June 14, 2023 |
Volkswagen's Canadian Subsidy Won't Be Taxable, Minister Says
Canada and German carmaker Volkswagen in April together committed more than C$20 billion for the planned Ontario plant, the biggest single investment in the country's EV supply chain.
This included up to C$13.2 billion in manufacturing tax credits through 2032 and a C$700 million federal grant.
In a review of the deal, Parliamentary Budget Officer (PBO) Yves Giroux said the tax credits would end up costing a bit less than estimated, but Ottawa would need to make about C$2.8 billion in tax adjustments to ensure Volkswagen gets the support it was promised.

Today's announcement ... those pesky Chinese vehicles and uneven playfield ...

EV battery subsidies to take 20 years to break even, not five as government claimed: PBO
Industry Minister François-Philippe Champagne defended the subsidies when they were announced, insisting they would pay off in just five years.
"Talk to any banker. He would say if you get your money in five years for a plant that's going to be there for 100 years, that's a pretty good deal for Canadians," he said when the Volkswagen deal was announced.
Parliamentary Budget Officer Yves Giroux looked at the numbers and said it will actually take much longer for the governments to get a return on their investments.
"The break-even timeline for the $28.2 billion in production subsidies announced for Stellantis-LGES and Volkswagen is estimated to be twenty years, significantly longer than the government's estimate of a payback within five years."

Amnesia and Gaza Genocide

by Oui on Thu Sep 14th, 2023 at 01:53:52 PM EST
[ Parent ]

Re: EU VDL State of the Union -- Managing Decay (none / 0)

Germany predicted to be the only major European economy to contract this year as recession lingers | CNBC |

Germany is set for a prolonged recession this year -- the only major European economy to experience an economic contraction during 2023, according to fresh forecasts by the European Commission, the executive arm of the EU.
Europe's largest economy is predicted to post a 0.4% fall in economic activity this year -- that's 0.6 percentage point lower than an estimate made in May, according to the commission, which published new forecasts Monday. The institution also cut its growth expectations for Germany in 2024, from 1.4% to 1.1%.
The German economy has struggled in the wake of ~~Russia's invasion of Ukraine~~ [Fact check: Biden's Blitzkrieg preparing Europe for war with Russia], with Berlin having to, very quickly, end years of energy dependency on the Kremlin [switch to expensive American LNG, dirty fracked fossil fuel]. The ~~International Monetary Fund~~ IFO says in ~~July~~ September that Germany would likely contract by 0.4% this year.
Top economists have dubbed the traditional economic powerhouse as the "sick man of Europe." The concept was coined back in 1998 when Germany faced economic challenges. But it's now being resurfaced as Berlin registers deep declines in output.
Data released in early September showed manufacturing activity in the country fell at its strongest pace since June 2009, excluding the Covid-19 pandemic period.