Frankfurt — Germany's car makers only have a 50% chance of surviving as leading players in the vehicle industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen (VW) CEO Herbert Diess said on Tuesday. The need to produce batteries and electric cars, rather than combustion engines, and the emergence of new geopolitical threats, is forcing car makers to accelerate deep-seated reforms that pose an existential threat to some players, he said. "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," he said. The push to cut carbon dioxide pollution and nitrogen oxide emissions now amounts to a campaign against individual mobility and against cars, Diess said. "We are all used to the fact that we have flourishing industrial metropolises around the central manufacturing plants of German car makers and their suppliers, places where people like to live and work, ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.