Why Your Job May Be At Stake Through The Rapid Change To Electric Vehicles
The shift to electric vehicles (EVs) is crucial for our planet, but it's not without challenges. This video explores the potential job losses in the auto industry as petrol and diesel cars become obsolete.
While I fully support EVs, the rapid transition could leave millions in the EU unemployed.
We need a structured plan to
- Retrain workers
- Invest in infrastructure
- Help people afford EVs
If you would prefer to read about it instead, there is a transcript below the video.
Why Your Job May Be At Stake Through The Rapid Change To Electric Vehicles - Video Transcript
In this video, I'll explain why your job may be at stake through the rapid change to electric vehicles.
I am very much in favour of the change to electric vehicles, but the high pace will put many jobs at risk.
There is a big chance that many new jobs will be created, but in order to do this, a structured change process will be needed.
Very large investments will be needed in order to change to all cars and all trucks to electric. Utilities, for example, will need to expand power grids and power production and charging infrastructure will have to expand very rapidly over the next ten years.
But all car buyers will not be able to buy electric cars just because the EU will ban the sales of new petrol and diesel cars from 2035.
All investors will not be able to make the necessary investments either. In order to get all the things done that need to be done, governments will need to make plans and make sure that all investors and all car buyers and all other people who will need to contribute will be aware of their roles and what they will need to do.
In the absence of structured change programs, other developments will be set in motion. 13.5 million people in the EU work with the automotive industry, and the same number works with suppliers and business partners.
A large share of these jobs will be lost.
The automotive industry is very profitable it is a very important driver of economic development.
Other industries will be impacted as well.
When people lose their jobs, it will be difficult to invest and the purchasing power of many people will be lost. Tax income will be reduced and the ability of companies and people to invest in new technologies will decline.
The EU needs to adapt the speed of change to what is actually possible. Petrol and diesel vehicles are the profitable cash cows of the automotive industry and the EU has decided to wipe out these vehicles and make many profitable and important companies unviable and replace them by nothing.
There are no plans for the expansion of power grids.
No plans for the expansion of power generation
and no plans for the expansion of charging infrastructure
People who lose their jobs through this change will have a hard time finding new ones within their present professions and creation of new jobs is likely to be slow.
Large numbers of jobs can be created but in order to do this the EU and governments will have to unlock these opportunities through structured change programs and training of individuals for their new professions.
To do this a combination of private and public financing will be needed.
More people need to learn about these changes and the economic and social consequences of the transformation.
My recent book, “The Severe Economic and Social Consequences of the Change to Electric Vehicles”, explains the consequences of the transition. (View on Amazon: https://amzn.to/3UQCf0t )
I am sharing my knowledge about the transformations electric vehicles through this YouTube channel, if you found this video interesting press like and subscribe to the channel.