Study: Electric revolution will lead to significant job losses

Study: Electric revolution will lead to significant job losses

According to the findings of a new study coinciding with the auto industry’s ongoing switch to electric vehicles (EVs), nearly 75,000 jobs will apparently be lost due to the electric revolution.

The new study has been released by the German automotive labor unions, which have been apprehensive about the electrification efforts of automakers. The unions have, for quite some time now, feared that the electric revolution would result in significant job losses.

The study was commissioned by Germany’s biggest trade union IG Metall from the Fraunhofer Institute of Industrial Engineering. The data on which the study was based was reportedly contributed by bigwig automakers Daimler, BMW, and Volkswagen.

With regard to the findings of the study, IG Metall has stated that “electromobility” will apparently have a direct or indirect effect on “every second job in passenger car powertrain” by the year 2030.

Highlighting the fact that 210,000 out of 840,000 jobs in the auto industry in Germany are linked to powertrain production, IG Metall has also said that as per the new study, the electric revolution will lead to the creation of new jobs in the production of electric motors and batteries.

However, the union has also added alongside that the number of jobs created in the production of electric motors/batteries will comparatively be fewer than the number of internal combustion powertrain jobs which will likely be lost.