Continental：the transfer to electric car may lead to job losses

According to foreign media reports, the German auto parts supplier Continental Group CEO Elmar Degenhart recently talked to the German weekly “Sunday World News” said that the transfer of the automotive industry to the center of the field of electric vehicles will cause part of the Continental Group jobs loss. However, electric vehicles (electric cars, electric buses and electric bikes) will also bring new jobs.

Degenhart pointed out that in view of the low value-added, production jobs will be in the phenomenon of loss. However, whether the lost jobs are less than the new jobs brought about by the new trend, Degenhart think it is not easy to say, “For now, there is still plenty of time to make measures to reduce the negative impact of new trends.”

According to the Sunday World newspaper, there are 218,000 jobs on the mainland, 30,000 of which are related to internal combustion engines.

Last month, Continental said it would increase its investment in electric vehicle components in the coming years, and the additional revenue from new R & D projects is expected to offset the revenue impact of investing in electric vehicle components.