The German company Gerhardi Kunststofftechnik GmbH failed to cope with the challenges faced by the modern European auto industry due to the fall in demand for electric cars. The company, founded in 1796 and surviving two world wars, is bankrupt, writes Bloomberg. And she is not the only one who has had a hard time due to the crisis.
Gerhardi declared itself bankrupt after a long period of falling demand for its products. What will happen to its one and a half thousand employees is still unknown. The company began its journey more than two centuries ago with the production of metal products, and then joined the auto industry and supplied star emblems for Mercedes-Benz sedans.
Other suppliers are also forced to cut production amid falling car sales. Thus, the French Forvia SE (supplier of parts for Volkswagen and Stellantis) is cutting thousands of jobs, the German Webasto SE has accumulated debts of a billion euros; The large Swedish battery manufacturer Northvolt AB is also experiencing financial difficulties. With upcoming layoffs at Volkswagen, Stellantis and Ford, the situation is sure to get worse.
The largest faction in the European Parliament has demanded that the ban on the sale of cars with internal combustion engines be lifted Mercedes-Benz is preparing for austerity Stellantis has lost its CEO
Since the beginning of 2024, European auto parts manufacturers have announced layoffs of more than 53 thousand employees – more than during the pandemic. Most of them were fired in Germany.
Interestingly, Gerhardi is not the only Mercedes-Benz star manufacturer to go bankrupt in recent years. In 2022, this happened to the company BIA Forst. She made emblems that were mounted vertically, for example, on the S-Class.
See the Gelendevagen of the German rescuers from the Mercedes-Benz Museum
