The top 2023 German business stories in pictures

In March, European Union member states agreed that from 2035 no new cars that run on gasoline or diesel can be registered as part of the transition to electric vehicles. However, a German initiative — and an accompanying lawsuit — could allow exemptions if they're powered by greener climate-neutral synthetic fuels.

In April, the last three active nuclear power plants in Germany were shut down as part of longstanding plans to move to renewable energies. The reactors Isar 2, Neckarwestheim 2 and Emsland had a short stay of execution (four months) due to the energy crisis sparked by Russia's invasion of Ukraine. But in the end it wasn't enough to save them.

From May 1, residents could use regional trains, trams, subways and buses throughout Germany with the Deutschlandticket for just €49 ($54) per month. The program is popular with commuters, but comes at a cost. The federal and state governments contributed €1.5 billion in subsidies to compensate for losses suffered by the public transport companies because of the lower fare price.

In July, a cargo ship carrying around 3,800 cars caught fire off the Dutch Wadden Sea island of Ameland. One person died during the evacuation, 22 crew members were injured and around 2,700 cars were destroyed. The ship was towed to a port in time, preventing an environmental disaster from an oil spill in the unique Wadden Sea.

Taiwanese chipmaker TSMC decided in August to build a semiconductor factory in Dresden, together with Bosch, Infineon and NXP. Because local semiconductor production will reduce dependence on imports from Asia, the German government is subsidizing the project to the tune of around €5 billion. An Intel chip factory near Magdeburg is set to receive around €10 billion in taxpayers' money.

The Bundestag lower house of parliament passed a controversial heating law in September. The law aimed to help make heating in Germany climate-friendly by gradually replacing oil and gas heating systems. But there was fierce criticism of Green Party politician and Economy Minister Robert Habeck due to technical inadequacies in the legislation, and the plans were watered down.

Now even the tough guys in the steel, metal and electrical industries in Germany are represented by a woman. For the first time in its 130-year history, IG Metall, the country's largest trade union, picked a female chair. Christiane Benner will represent the union's more than 2.1 million members over the next four years. Overall, women make up less than 20% of the group.

Germany's constitutional court ruled in November that funds intended to combat the COVID-19 pandemic cannot be reassigned to climate protection in the 2024 budget. That means the government is short €60 billion to finance green energy projects, among other things. After the heating law problems, it's definitely not been the best year for Economy Minister Robert Habeck.

Rene Benko, an Austrian businessman, made headlines in November when his property empire started to fall apart. Parts of his Signa group of businesses, which include properties in Germany and Austria and the Galeria Karstadt Kaufhof department store chain, filed for self-administration insolvency. Additionally, work is at a standstill on many big construction sites and numerous jobs are at risk.