Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will see a “massive shrinking” with such a ban. European carmakers are already struggling with their …
Read More »Germany Undecided on Whether to Support EU Tariffs on Chinese EVs
Germany hasn’t decided yet if it would support the EU’s plans to officially introduce tariffs on electric vehicles imported from China, the chief economic adviser of German Chancellor Olaf Scholz told Bloomberg TV on Tuesday. The EU earlier this year imposed provisional tariffs of up to 36% on EVs imported …
Read More »Germany Wants more Kazakh Oil
Germany, the European Union’s biggest economy, is also the most vocal advocate of a transition away from oil and gas. Despite this policy, Germany is one of the biggest importers of liquefied natural gas. Now, it also wants to significantly boost its crude oil imports—from Kazakhstan. Media reported this week …
Read More »Germany Calls on EU to Extend Transition Period for Green Hydrogen Rules
Germany is seeking an EU delay to some of the rules on green hydrogen production to allow the industry to take off and produce clean hydrogen at lower costs, Germany’s Economy Minister Robert Habeck wrote this week in a letter to EU Energy Commissioner Kadri Simson seen by Bloomberg. The …
Read More »Germany Says China’s Emission Reductions are Crucial for Global Goals
The pace at which China will reduce its greenhouse gas emissions will be critical to reaching the global targets to fight climate change, Germany’s climate envoy has said. “What China decides to do in its NDC is probably the most important thing to keeping that 1.5-degree target in sight,” Jennifer …
Read More »Germany Set to Extend Trusteeship of Local Rosneft Assets
Germany expects to extend for another six months its trusteeship over the German assets of Rosneft while Qatar and the Russian oil giant are reportedly in talks over a sale to the gas-rich Gulf nation, sources with knowledge of the situation told Reuters on Monday. Schwedt is the fourth-largest refinery …
Read More »German Politician Looks to Revive Russian Oil Imports
Sara Wagenknecht, founder of Germany’s ultra-left party BSW, has announced plans to lift the embargo on Russian oil if her party participates in the Brandenburg state government. Wagenknecht argues that resuming the supply of Russian oil to the Schwedt refinery would be more efficient and economical than the current situation, …
Read More »Germany’s EV Sales Sink 37% as Subsidies End
The biggest European car market, Germany, saw the sales of electric vehicles plummet by 36.8% in July from a year earlier, as EV sales are softening worldwide and as Berlin ended subsidies at the end of 2023. New car registrations of battery vehicle vehicles (BEVs) in Germany slumped to 30,762 …
Read More »German Firms Install Solar Panels to Cut Electricity Costs
Germany’s small and medium-sized companies are increasingly turning to solar power to cover their electricity consumption as energy prices in Europe’s biggest economy haven’t dropped much despite the fall in natural gas prices compared to the peak energy crisis. “As electricity prices in Germany show no signs of decreasing as …
Read More »Bitcoin Stumbles as Germany Liquidates $150 Million in Seized Crypto
The German government has recently transferred a substantial amount of Bitcoin to centralized exchanges, fueling market discussions and speculations. According to data from blockchain analytics firm Arkham, the German Federal Criminal Police Office (BKA) moved another 250 BTC to exchanges such as Kraken and Coinbase. This Bitcoin is worth about …
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