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India reshapes its workforce to plug into the EV era
Business Standard
|November 27, 2024
TaMo to upskill half its workforce in 5 years; Tamil Nadu teams up with World Bank to fuel the transition
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.
This story is from the November 27, 2024 edition of Business Standard.
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