Moneycontrol
Get App
you are here: HomeNewsWorld
Last Updated : Jan 13, 2020 02:02 PM IST | Source: Reuters

More than 400,000 German jobs at risk in switch to electric cars: Report

In engines and transmissions' production alone, around 88,000 jobs will be at risk, the newspaper said, citing a report by the National Platform for the Future of Mobility (NPM), an advisory council for the government.

Representative image
Representative image

The shift to electric vehicles could cost 410,000 jobs in Germany by 2030, daily Handelsblatt reported on Monday, citing government advisers.

In engines and transmissions' production alone, around 88,000 jobs will be at risk, the newspaper said, citing a report by the National Platform for the Future of Mobility (NPM), an advisory council for the government.

Electric cars' engines are made of fewer parts and require less maintenance than combustion engines, which will result in layoffs, the report was quoted as saying.

Close

Vehicle production will be further automated and will not be sufficient to support the current level of jobs, Handelsblatt said, citing NPM's Chairman Henning Kagermann.

In 2018, employment in the car industry in Germany reached 834,000, its highest since 1991.

Germany's main automobile industry body (VDA), which in December warned of more job cuts in 2020 due to a drop in global car sales, said NPM's forecast was based on an "unrealistic extreme scenario", Handelsblatt quoted a VDA official as saying.

The industry, an important driver of growth in Europe's largest economy, has been accelerating plans to launch electric vehicles, under pressure from a European Union drive to further cut carbon dioxide emissions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jan 13, 2020 01:57 pm
Sections
Follow us on