Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Car engine bans in Germany would put 600,000 jobs at risk - Ifo

Published 18/07/2017, 16:09
© Reuters. Cars queue during traffic jam on the city highway A100 at rush hour in Berlin
MBGn
-
BMWG
-
VOWG_p
-

BERLIN (Reuters) - More than 600,000 jobs could be at risk in Germany by 2030 from a potential ban on combustion engine cars, the Ifo economic institute said in a study on Tuesday.

A switch to sales of zero-emission cars would threaten 426,000 car manufacturing jobs, with the rest coming from related industries, such as suppliers, Ifo said in the study commissioned by the VDA auto industry association.

The VDA, representing carmakers such as Volkswagen (DE:VOWG_p), Daimler (DE:DAIGn) and BMW (DE:BMWG), is in discussions with the government on a plan to reduce pollution from older diesel cars that the industry hopes will avert complete bans on diesel engines in certain German cities.

Many German cities, including Munich and Stuttgart, have considered banning some diesel vehicles, blaming emissions for causing increased respiratory disease.

Pollution from diesel engines has become a sensitive subject since VW's emissions tests cheating scandal broke in September 2015.

"It is important that climate policy proceeds in a neutral fashion by setting climate protection goals without prescribing the technologies that have to be used to achieve them," Ifo president Clemens Fuest said at a news conference.

© Reuters. Cars queue during traffic jam on the city highway A100 at rush hour in Berlin

Representatives from Germany's federal government, states where carmakers are headquartered and automakers will meet on Aug. 2 to find ways to curb pollution from diesels.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.