Brandenburg's economic outlook 2024: Opportunities and problems in the automotive supply industry

Brandenburg's economic outlook 2024: Opportunities and problems in the automotive supply industry

According to a report by www.stern.de, Brandenburg's Minister of Economic Affairs, Jörg Steinbach, predicts positive economic development for Brandenburg in 2024. However, there are also concerns, especially with regard to small and medium-sized companies in the automotive supply industry, which could have difficulties coping with the change to electromobility. Steinbach fears that some companies will disappear from Brandenburg's economic map if they cannot overcome this challenge. Nevertheless, the minister points out that industrial settlements will also take place in 2024 and points to positive developments last year.

With regard to the expected positive development, Steinbach points out that Brandenburg's gross domestic product grew the most in the first half of 2023 compared to all other federal states. This is in contrast to a weakening economy in Germany as a whole.

A possible settlement of the Stuttgart car manufacturer Porsche and the expansion of the production facility for cathode materials at BASF are also in the pipeline. However, there are also challenges, such as the planned closure of Goodyear's tire production in Fürstenwalde and structural problems in the rubber industry.

The minister's assessment suggests that the economy in Brandenburg still has potential for successful development despite some challenges. However, it is important that companies and the government work together to adapt to the shift to electric mobility and the global economic environment. These developments will also potentially have an impact on the market and the financial industry, particularly in relation to investment and growth of companies in the automotive and electric mobility sectors.