Germany’s Energy Crunch
5,809 views Sep 24, 2022 Germany’s automobile industry is perhaps one of the largest drivers of its economy. In fact, the German automotive industry is one of the largest employers in the world, providing jobs to about 860,000 people. The industry represents 5% of the German GDP, and in 2021, it produced over 15.6 million vehicles. Fifteen of the world’s 75 top automotive suppliers are German companies. Around the world, German companies have carved a name for themselves for their expertise in producing quality luxury vehicles. Now, the core strength of the German economy is crumbling, as car manufacturers find themselves in the middle of a painful energy crisis. And that has led Europe’s largest automobile manufacturer – Volkswagen to think of shifting production out of eastern Europe. Watch to know more.
Credit Firstpost
