"VW is of central importance to Germany," Habeck told reporters in the city of Papenburg in the state of Lower Saxony, emphasizing the government's intent to support the struggling automaker amid threats of job cuts.
VW reported a 14% drop in net profit in the first half of the year, which underscores the impact of poor electric vehicle sales and the termination of its job security agreement.
The government is looking into measures to revive VW's sales amid considerable challenges, including the collapse of electric vehicle demand following the cessation of subsidies, a situation affecting the entire German automotive sector.
As part of a broader strategy to address the decline in EV sales, the Economy Ministry is organizing a summit that includes key stakeholders like VDA, IG Metall Union, and car manufacturers.
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