EU launches strategic dialogue on 'response to automobile industry crisis' next month

The European Union, the EU are working on measures to overcome the automobile industry crisis, which is at the heart of European manufacturing.

The European Commission says it will officially launch a "Strategic Dialogue on the Future of the European Automotive Industry" next month.

The strategic dialogue aims to provide solutions on strengthening the automotive supply chain, innovation based on artificial intelligence and autonomous driving, supporting decarbonization, and simplifying regulatory frameworks, the Commission explained.

Commission President Ursula von der Leyen said the automotive industry is vital to Europe's prosperity and stressed that the future of the automotive industry must be firmly rooted in Europe.

The European auto industry, which is responsible for about 13 million jobs, is lagging behind China's competition in the EV transition phase, while exports to China are also on the decline.

Volkswagen, Europe's largest automaker, announced in October that it would close its plants in Germany for the first time since its foundation, while Audi, Volvo and BMW are also considering closing their European plants or cutting production.