Germany’s shift to electric vehicles could affect at least 178,000 employees in the next four years, according to a study reported by CNBC.
- The study conducted by Munich-based Ifo Institute takes into consideration the expected extent of current emission regulations by 2025.
- Ifo said 137,000 of the workers affected are directly employed by the automotive industry.
- An estimated 75,000 workers involved in Germany’s auto production sector are expected to retire by 2025.
- The workers affected are made up of those who manufacture product groups that depend directly or independently on the combustion engine.
- Ifo President Clemens Fuest noted the need to balance the shift with maintaining highly skilled jobs in the remaining production of combustion engines and electric vehicles.
- Germany wants to register 7 million to 10 million vehicles in the country by the end of the decade. Battery-electric vehicle sales rose to over 194,000 last year.