Former Volkswagen boss Ferdinand Piech was one of the most brilliant automotive minds, says Arndt Ellinghorst, auto industry analyst with Evercore. Turning a collapsing carmaker into a global empire was his achievement.
With just 10 weeks left until the UK is scheduled to leave the EU, the prospect of a no-deal exit remains firmly on the table. That’s bad news for the UK car industry, which is already planning for the worst.
The US e-car pioneer increased production of its Model 3 mass-market car in the first quarter but still fell far short of its output targets. CEO Elon Musk also quashed speculation he might need to raise more capital.
German companies are closely following all developments that might give them an idea of exactly how the United Kingdom will leave the European Union. Soft or hard Brexit — that's the question yet to be answered.
Companies across Germany are getting more nervous and not just sitting idle waiting for Brexit, but are already preparing by looking for individual solutions and expensive work-arounds.
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