Scholz: Automotive industry will 'master the upheavals'

German Chancellor Olaf Scholz expresses confidence in the future of the automotive industry, despite the current crisis at Volkswagen. Scholz believes that the German automobile industry will remain a significant sector in the country's economy and will successfully navigate the upcoming changes, including the shift towards electric vehicles.

The government is taking steps to support the industry, such as improving tax conditions for electric company vehicles and expanding the number of charging stations. In the face of Volkswagen's announcement of a tougher cost-cutting plan, including possible factory closures and job losses, Scholz assures that the government stands with the employees and the industry, working towards securing jobs and maintaining the stability of the company.

Additionally, Hessen's Minister President, Boris Rhein, considers providing financial support to Volkswagen to help mitigate the impact of the crisis on the region's largest component plant and largest employer.