German Electric Mobility Association Declares Bankruptcy
(MENAFN) A German consortium that unites enterprises connected to electric vehicle development has reportedly declared bankruptcy, according to court documents cited by a news agency on Sunday.
The collective, which includes 450 companies from around the globe—such as Mitsubishi and Kia—serves as a lobbying body for its members.
Established 16 years ago, the German Federal eMobility Association (BEM) portrays itself as a network encompassing participants from every segment of the electric vehicle production process.
The organization states that it is “actively driving the transition to a sustainable mobility and energy system based on renewable energy.”
As detailed by the news agency, the association’s member organizations collectively generate USD114 billion in revenue and provide employment for approximately one million individuals.
Additionally, the group reportedly maintains its own advisory board within the parliament.
At present, the “struggling” organization has been placed under the temporary supervision of an insolvency administrator, as appointed by the Berlin-Charlottenburg insolvency court, the newspaper disclosed.
The publication did not specify the factors that led to this decision.
Markus Emmert, a board representative of BEM, declined to offer remarks when approached by the news agency.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
