German automaker Volkswagen announced recently that it might need to close German factories—a move unprecedented in the company’s history. In addition, VW is considering ending an employment protection agreement that’s been in place since 1994. The CEO also said that layoffs and early retirement or severance packages are no longer sufficient. This comes amid EV mandates and mounting pressure from cheaper Asian EV manufacturers.
To find out more, NTD spoke with Paul Mueller, an economist at the American Institute for Economic Research.