The SPD is advocating for a subsidized electricity price to support struggling companies like Volkswagen (VW) and Thyssenkrupp amid rising energy costs.

This proposal, which includes a 'transformation electricity price' where the state covers part of the electricity costs, aims to make these companies more competitive.

SPD's economic spokesperson, Bernd Westphal, emphasized the need for competitive electricity prices and warned against relying solely on electromobility.

Meanwhile, SPD leader Lars Klingbeil is urging the EU to develop a robust industrial strategy to enhance European competitiveness.

The crisis at VW, marked by potential job cuts and plant closures, has sparked calls for state intervention, highlighting the broader economic challenges facing the industry.