Home » Business » The Impact of Electric Car Transition on the Automotive Industry: Job Cuts and Economic Damage

The Impact of Electric Car Transition on the Automotive Industry: Job Cuts and Economic Damage

The green car is causing us to crash before it even starts its race. And the risk is that an entire sector will get hurt, which is already put to the test. The most concrete danger signals, in this case, come from neighboring Germany, where the transition to electric cars blessed by the European Union is causing the first serious repercussions. That is, a new wave of job cuts.

The news came in the last few hours that Boschthe world’s largest automotive supplier, intends fire until 1,200 employees in its software development division by the end of 2026. Announcing the cuts, the multinational cited the high costs linked to the transition to the electric motor, burdened by inflation and the increase in the costs of raw materials and energy. But since Europe has established that from 2035 it will no longer be possible to sell new cars with internal combustion engines (petrol or diesel), reversing the trend is no longer possible. Thus, people are sacrificed to comply with the eco-diktat. To save the environment (this is in fact the belief), an asset that represents almost 8% of European GDP is crippled.

The negative repercussions of the expensive transition to electric have also hit the German multinational ZF Friedrichshafen, manufacturer of components for the transport industry. The company, which employs around 165,000 people globally, said that 12,000 jobs could be lost in the “worst case scenario”. To protest against the dramatic hypothesis, last Wednesday 3 thousand employees took to the streets in Friedrichshafen, in southern Germany, where the company has its headquarters. “We know that the transformation towards electric mobility alone will cost jobs,” the multinational admitted in a note reported by the Financial Times, explaining that some components of electric vehicles require half the labor compared to the equivalent of combustion engines.

And in Italy the situation is not so different: from Gkn from Campi Bisenzio to Wärtsilä in Trieste; from the Continental of Livorno to the Bosch of Modugno, passing through the Magneti Marelli of Crevalcore, several engine and car component factories are at risk of closure.

In this emergency situation, the government and the centre-right are trying to do their part, especially in Europe, where they have repeatedly expressed opposition to extremism on the energy transition. “What is happening is nothing but the consequence of the extremist green policies of this EU, which in addition to being ineffective on an environmental level, because large polluters such as China continue to act undisturbed, cause serious damage to businesses, workers and families”, he reiterates the Northern League MEP Marco Zanni at the Giornale. On the opposite front there are the contradictions of the left and trade unions, who have always supported electric, only to then have to deal with the other side of the coin. And even now, faced with the crisis in the sector, progressives are changing their minds. Rather, as Maurizio Landini did, they ask for “public intervention” to manage the change. So, we are always the ones who lose out.

2024-01-19 20:38:00
#Electricity #knocks #Germanys #industry #gear

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