The lamps are going out all over Europe’s auto industry?
Volkswagen Hits the Net-Zero Wall
The auto industry is the backbone of Germany’s, and thus Europe’s, industrial economy.
VW operates factories in most European countries and owns brands such as Spain’s Seat and the Czech Republic’s Skoda.
If something’s wrong at VW, something’s seriously wrong in Germany and Europe.
Dieselgate scandal when the company was caught installing software in cars to thwart emissions tests.
Electricity prices for large industrial users in Germany are well above the European Union average, let alone the U.S., China or Japan.
Europe’s auto-industry travails are painful evidence that net-zero climate policy is the worst act of economic masochism in the West since the 1930s.
Bloomberg Editorial 29 October 2024
https://www.wsj.com/opinion/volkswagen-layoffs-net-zero-electric-vehicles-europe-4d182e15
"The lamps are going out all over Europe, we shall not see them lit again in our life-time", British Foreign Secretary Sir Edward Grey remarked to a friend on the eve of the United Kingdom's entry into the First World War.
https://en.wikipedia.org/wiki/The_lamps_are_going_out
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