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German carmakers have only 50% chance of staying ahead - Mr Herbert Diess

Auto News - Published on Wed, 17 Oct 2018

Image Source: reutersmedia.net
Reuters reported that Germany's carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen Chief Executive Mr Herbert Diess said that the need to produce batteries and electric cars, rather than combustion engines, and the emergence of new geopolitical threats, is forcing automakers to accelerate deep-seated reforms which pose an existential threat to some players.

Mr Diess said that "From today's point of view the chances are perhaps 50-50 that the German auto industry will still belong among the global elite in 10 years' time.”

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Posted By : Joykumar Irom on Wed, 17 Oct 2018
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