PARTS MAKERS WORLDWIDE FACE LOSS OF BUSINESS DURING TRANSITION TO EVs
November 28th, 2023
Auto parts manufacturers worldwide are assessing the impact on their businesses of the shift to electric vehicles (EVs) from internal combustion engines (ICE), given EVs need fewer components, reducing demand. Most assessments say that there are about 20 moving parts in an electric engine, compared to 2,000 in an ICE (1).
Stefan Bratzel, director of the Germany-based Center of Automotive Management (CAM), said the EV transformation is depressing employment, predicting suppliers will cut their workforce by around 20% because of the change.
“We had long seen ...
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