A major German automotive supplier has warned of mounting challenges in the electric vehicle sector, attributing declining sales and a slowdown in overall car production to its financial strain. Despite reaffirming its long-term growth targets for 2026, the company has already made deep workforce reductions—shedding over 6,500 positions in the first half of the year. The move underscores the industry’s shifting dynamics as traditional automakers and suppliers navigate the transition to electrification. Industry observers will watch closely to see whether this trend signals broader struggles ahead for EV-related manufacturing.
The German supplier cited weak EV demand and slowing automotive production as pressure points. It maintained its 2026 outlook while cutting more than 6,500 jobs in the first half.
