Swiss automotive parts giant Feintool plans to close its German factory, laying off as many as 200 employees.

On December 3, Glonghui reported that the swiss franc auto parts supplier Feintool announced on Tuesday that it will close one of its plants in Germany and lay off up to 200 employees due to weak demand for electric vehicles and uncertainty in the transition to wind power. Feintool plans to restructure the production of electric machine rotors and stators and stated it will close the unprofitable plant located in Sachsenheim near Stuttgart, transferring most of the production to the Tokod factory in Hungary. Feintool stated that these changes will be negotiated with worker representatives, and the current 450 jobs in Sachsenheim and Weissenburg will be retained.

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