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.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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CESS AND SENSIBILITY
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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
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Future of television is smart and networked
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Centre spent ₹3,623 crore on crop residue mgmt since 2018: Environment minister
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Tech stocks gain as recovery takes hold
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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.
