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.
Denne historien er fra November 27, 2024-utgaven av Business Standard.
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Denne historien er fra November 27, 2024-utgaven av Business Standard.
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