December 30, 2024 – Gerhardi Kunststofftechnik GmbH, a German plastics technology company that survived Napoleon’s invasion, the Great Depression, and two World Wars, has succumbed to the current downturn in the European automotive industry.
Established in 1796, Gerhardi Kunststofftechnik initially began manufacturing metal products. Its mastery of injection molding and hot stamping led it to become a supplier of the iconic plastic three-pointed star logo for the grille center of Mercedes-Benz Group vehicles.
However, according to Bloomberg, in November 2024, after experiencing prolonged cost increases and shrinking demand, Gerhardi Kunststofftechnik filed for bankruptcy, leaving its 1,500 employees facing an uncertain future.
In reality, Gerhardi Kunststofftechnik is just a microcosm of the current situation facing hundreds of small automotive suppliers in Europe. The report also mentioned that French company Forvia SE, which produces parts for Stellantis and Volkswagen, is laying off thousands of employees. Electric vehicle-related suppliers, such as Swedish battery manufacturer Northvolt AB, have also been affected following the government’s withdrawal of subsidies and declining sales.
Previously, automotive parts giant Bosch announced in November that it would cut 5,500 jobs globally, including 3,800 positions in Germany. Furthermore, on top of its previous salary reduction plan, Bosch will further reduce the working hours and compensation of about 10,000 employees in Germany.
