German electric car company's next e‑go mobile shuts down 200 jobs lost

German electric car manufacturer Next E-Go Mobile from Aachen is finally ceasing operations. The bankruptcy trustee, cited by German media, reported that no investor could be found. This means that 200 people will lose their jobs.

The bankruptcy trustee of the German company Next E-Go Mobile, Claus-Peter Kruth, announced the company's definitive closure. The reason is the lack of an investor willing to take over the company that produces electric cars.

The company’s founders could not persuade consumers to adopt electric vehicles, with the E-Wave X model being a particular failure, as it never even entered production.

As a result of the company's collapse, about 200 employees will soon receive termination notices. The company's assets will then be liquidated to cover its liabilities.

Next, E-Go Mobile attracted attention in the developing electric mobility market. However, despite the involvement of well-known personalities supporting the brand and impressive marketing efforts, including hiring soccer player Neymar as an ambassador, success was not achieved.

Germany is experiencing a wave of layoffs. The automotive industry is one of the sectors most affected by job cuts, and many leading companies in the sector have conducted layoffs. Continental, the tire manufacturer from Hanover, announced it would lay off more than 7,000 employees by 2025 as part of a cost-saving program. The goal is to reduce annual costs by about €400 million, or $425 million.

The ZF Group, an automotive component supplier based in Friedrichshafen, has announced plans to close two factories and eliminate 12,000 jobs, which represents about 25 percent of its total workforce in Germany. The reason is cost-cutting efforts. According to the media, ZF intends to move part of its research, development, and production activities to countries with lower labor costs, such as Eastern European countries, India, or China.

Other industries are also affected. Bosch, the world's largest supplier of automotive parts based in Gerlingen, will cut 4,000 jobs. The shift towards electric mobility necessitates a deep company restructuring, and talks with labor unions have already begun.