120,000 workers strike in Germany as VW Group inches towards bankruptcy

it's the beginning of the end of the German automotive industry now will the German automotive industry be completely killed off no but most of it will 120,000 German work workers from Volkswagen plants in Germany have walked off the job they've gone on strike and what does this mean what does this mean for the Volkswagen group what does this mean for Germany well the German ministers know what this means they are panicking they are they are thinking to themselves what the hell are we going to do now keep in mind that German car manufacturers have basically

begged the European Union not to tax Chinese vehicles because they know that their sales of their vehicles in China are more important than their sales in Europe and yet all of that fell on De ear Herbert de the former CEO of the Volkswagen group he said the company had to make changes right the company had to reduce reduce costs drastically it had make more electric cars it had to streamline its production processes it needed to use Tesla like Giga casting and structural battery packs and guess what he was fired now the business is in chaos

chaos that I think people don't really fully understand hello my friends welcome to the channel I'm Sam Evans you're watching the electric Viking Germany the economy depends on the automotive industry for every direct job in the automotive industry for example for every one person tells their employees an additional 10 people are employed throughout Germany that's the average number worldwide for the automotive industry but Germany's automotive industry and therefore its economy are in crisis make no mistake about it workers at nine Volkswagen plants nine factories and also component plants across Germany 120,000 of them started strikes

on Monday bringing assembly lines to Hal as labor and management Clash over the future of the car makers German operations what does this do does this make Vehicles cheaper to manufacture or does it make them more expensive Volkswagen as a group they're saying we have no choice you have to take a 10% pay cut otherwise potentially half of you will lose your jobs the unions are saying well no you need to increase salaries by 10% so what's going to happen well it looks like a stalemate thousands gathered at the Volkswagen wagon headquarters in Wolfsburg demonstrations

Al also took place at the Handover plant which employs around 14,000 people alone and also at other component and auto plants including emden SZ skitter and Brunswick now this is all across Germany it's all over the media and I don't believe that they understand what they doing to themselves similar things happened here in Australia similar things have happened to Automotive Industries in different countries around the world and in those countries there is no longer an automotive industry and Volkswagen's main plant in Wolfsburg alone a strike means thousands of cars including the iconic golf cannot be

built the strikes which could escalate into days long stoppages potentially unlimited if a deal is not struck in the next round of wage negotiations will reduce Volkswagen's output when the car maker is already facing declining deliveries and plunging profit and when I say plunging profit I mean profits profits dropped 42% if you include inflation profits were the lowest that they've been in decades profits dropped 42% in the last 3 months Volkswagen group themselves their CFO says the company is sick that's his work the company is sick they said the roof is on fire so now

the union thinks well let's just burn the whole thing to the ground that's essentially what's happening I understand if you're an employee you want to keep your job but you can't save everyone it's impossible the company is sick you can't just revive this sick patient you've got to cut away the bad stuff there's no choice here how long and how intensive this confrontation needs to be is Volkswagen's responsibility at the negotiating table said Thorston groger who leads negotiations on behalf of of IG medal IG medal are the same Union that have attacked Tesla mercilessly and

relentlessly for more than a year now haven't succeeded but that has happened and I don't believe IG medal are going to capitulate these guys they are probably even more hardcore than the UAW in North America Daniel Daniela cavello head of Volkswagen's Works Council reiterated that Volkswagen's biggest shareholders which apart from lower Saxon include a holding firm controlled by poror and the phich families may also have to make sacrifices with regard to the annual dividend the union last week proposed measures it said would save €1 1.5 billion EUR these included forgoing bonuses for 2025 and 2026

which Europe's biggest car maker dismissed Volkswagen has demanded a 10% wage cut saying it needs to cut costs and boost profit to defend market share as European car makers struggle with weak demand high production costs competition from Chinese Rivals and a slower than expected electric vehicle transition now make a mistake this so-called slower than expected electric vehicle transition is intentional from the Volkswagen group that is a lie they are constantly lying about this claiming that this slower than anticipated EV sales thing is real when it's not EV sales worldwide have actually grown by 30% this

year since the Volkswagen groups EV sales have not grown intentionally they don't want them to they make a massive loss look at their profits right right Q3 profits down plunged 42% they make a huge loss on every electric car they sell they don't want they don't want the electric Revolution to be to continue because they aren't a part of it look at Chinese look at the Chinese Car Sales look at the Chinese market is the Volkswagen group a significant part of the explosion in EV sales in China no they're not the company has threatened to

close plants in Germany for the first time in its 87-year history management wants to drive the nail nail in even further said Lucia Helm a work at Volkswagen's Handover played taking part in Monday's strike it's a twisted World in football trainers quit if they're not winning the game and Volkswagen it's the other way around players are being punished you can imagine this is the Viewpoint of probably many many staff at the Volkswagen group and while I understand the honesty behind that it doesn't mean that's going to be useful it doesn't this company is on its

really at the point it's not that far off being Nissen and agreement not to Stage walkouts ended on Saturday and having workers to strike from Sunday basically indefinitely the labor union called on employees of the plants housed under subsidiary Volkswagen which includes Volkswagen's EV only plant in zow to strike on Monday and Tuesday and up to that point in time who knows what's going to happen here's here's when we really look at this globally electric car cells have increased right the Chinese are manufacturing EVS at an incredible price with amazing technology you cannot compare any

Volkswagen EV to the best EVS in China they are nowhere near comparable in terms of their technology the charging speed battery energency range um the actual car that you get for your money in China is so much better the only place where the Volkswagen group are safe right now is Europe but for how long numerous Chinese automakers are planning an assault on Europe they are building factories in Europe or around Europe in order to circumvent these EV tariffs these China vehicle tariffs it's only a matter of time [Music]