Weak global demand for electric vehicles (EVs) and mounting industry challenges have pushed several automobile (auto) makers to announce job cuts. Last week, American automaker Ford said it would reduce its European workforce by 14 percent, blaming ongoing losses due to sluggish EV demand, inadequate government support for the transition, and competition from subsidized Chinese rivals.
Ford joins Nissan, Stellantis, and General Motors, which have also taken cost-cutting measures as the sector struggles with high EV production costs, making them unaffordable for many consumers.
In India, the transition from internal combustion engine (ICE) vehicles to EVs is unfolding differently. Industry experts believe manufacturing jobs will remain unaffected as ICE demand continues to rise alongside economic growth.
As the country moves towards greater EV adoption, automakers and state governments are taking proactive steps to avoid job losses by focusing on upskilling the workforce.
Diese Geschichte stammt aus der November 27, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der November 27, 2024-Ausgabe von Business Standard.
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CESS AND SENSIBILITY
Southern states say cess and surcharge eat into their share of resources, urge 16th Finance Commission to consider contribution to national economy
Over 6K pollution plaints in Delhi since Oct 2021; 38% still unresolved: CPCB
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India's transport future balances fossil fuels and clean tech
Fossil fuels will continue to play an important role in India's transportation sector, even as alternative fuel technologies see multifold growth.
Indians see wallets drain by ₹485 crore in 'UPI scams' in FY25
Over 600,000 incidents of fraud have been reported in the ongoing financial year till September
Future of television is smart and networked
The smart TV market has been stagnant. Is Dor the disruption it needs?
Centre spent ₹3,623 crore on crop residue mgmt since 2018: Environment minister
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Silver prices as volatile as stocks: Should you pick gold or silver?
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Tech stocks gain as recovery takes hold
Nifty IT index hits all-time high as IT outlook turns positive
Adani group stocks settle in red
UNDER PRESSURE
Enviro Infra booked 89.9 times on last day
The initial public offering (IPO) of sewage treatment solutions provider Enviro Infra Engineers was subscribed 89.90 times on the closing day of bidding on Tuesday.
