Automotive industry Internal paper: EU car industry fears for millions of jobs

An internal paper from the European car industry has warned of the loss of millions of jobs. The letter states that the industry is not in a position to comply with an impending tightening of EU climate regulations.

"As a result, the EU industry will be confronted with fines amounting to billions," the letter, which was obtained by the German news agency DPA, states. Those who want to avoid penalties "have little choice but to significantly reduce production, which threatens millions of jobs in the EU."

When asked, the European Automobile Association Acea stated that it was aware of the paper. It is not an official paper from the lobby association. According to DPA information, the letter is authentic and is circulating within the European automotive industry. The financial services provider Bloomberg had also previously reported on the internal paper.