The star manufacturer Mercedes-Benz went bankrupt after 228 years of existence

The supplier of branded “stars” Mercedes-Benz announced bankruptcy. The German firm Gerhardi Kunststofftechnik GmbH has not coped with the challenges faced by the modern European car industry due to the drop in demand for electric vehicles. The company, founded in 1796, survived two world wars, but went bankrupt in 2024. This is reported by Bloomberg UNN.

Details

Gerhardi declared bankruptcy after a prolonged drop in demand for its products. What will happen to its 1,500 employees is currently unknown. The company began its journey more than two centuries ago with the production of metal products, and then merged into the automotive industry and supplied star emblems for Mercedes-Benz sedans.

Germany’s Gerhardi Kunststofftechnik GmbH survived Napoleon’s invasion, the Great Depression and two world wars. But the current downturn in Europe’s automotive industry has brought the plastics manufacturer to its knees

It said the company filed for bankruptcy last month, leaving 1,500 employees out of a job after a long period of rising costs and falling demand.

Other suppliers are also being forced to cut production amid falling car sales. For example, the French Forvia SE (supplier of parts for Volkswagen and Stellantis) is cutting thousands of jobs, the German Webasto SE has accumulated debts of one billion euros; the large Swedish battery manufacturer Northvolt AB is also experiencing financial difficulties. With upcoming layoffs at Volkswagen, Stellantis and Ford, the situation is sure to get worse.

It is interesting that Gerhardi is not the only manufacturer of Mercedes-Benz stars that went bankrupt in recent years. In 2022, this happened to the BIA Forst company. She made emblems that were installed vertically, for example, on the S-Class.

We will remind

Europe’s largest carmaker Volkswagen plans to close at least three German plants, cut tens of thousands of jobs and cut wages by 10 percent.