Quote (ofthevoid @ 23 Nov 2024 15:25)
German bros the trend continues. Look at the bright side though, diversity is your strength now, you have successfully diversified from cheap energy such as Russian gas and nuclear.
The struggles of Bosch are mostly caused by the transition of the auto industry from combustion cars to EVs, a transition which was always gonna cost countless jobs in the supplier industry. EVs simply need far less parts than ICE engines. This one is on the Green Agenda which German political and corporate leaders foolishly embraced during the second half of the 2010s, rather than on the loss of Russian gas.
Basically, the big German car manufacturers threw their suppliers and their country's
Mittelstand under the bus to accomodate the zeitgeist, thinking that it wouldn't make a difference to their own business and profitability whether they sell combustion or electric cars. Now, they realize that EVs are an inferior technology which a majority of the customers reject, and that the cheap Chinese competitors are coming to eat their lunch. Well deserved. Fuck them.
This post was edited by Black XistenZ on Nov 24 2024 01:46am