Sahra Wagenknecht, a member of the German Parliament and chairwoman of the Left Party alliance, has announced plans to initiate a vote in the German parliament to reverse the intended phase-out of combustion engines.
Wagenknecht asserted that a majority in the parliament opposes the ban on combustion engines, and the vote would provide an opportunity for parties like the Union and the FDP to act on their stated opposition to the policy.
The proposed vote comes in the wake of recent criticism from prominent political figures, including Markus Söder, the leader of the CSU party, who denounced the planned 2035 end to combustion engines in the European Union as “wrong.” Söder argued that abandoning a functioning technology and leaving it to other countries is absurd.
Similarly, Federal Transport Minister Volker Wissing of the FDP welcomed calls to reverse the ban, emphasizing the importance of technology neutrality in regulating the vehicle industry.
Wagenknecht characterized the ban on combustion engines as “the biggest wrong decision in industrial policy for Germany in recent decades,” warning that it would inexcusably destroy a vital industry.
She urged the parliament to call on the federal government to work at the European level to overturn the EU ban, which she believes poses a significant threat to the German automotive sector.
Information for this story was found via Boerse, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
