According to a report from the Ifo Economic Institute, commissioned by German car industry lobby group VDA, more than 600,000 jobs in Germany are at risk due to Germany’s potential ban on gasoline cars by 2030.

Key points from the report:

  • A ban on combustion engines as of 2030 could lead to significant losses in terms of jobs and added value in Germany.
  • Over 600,000 of jobs in manufacturing would currently be directly or indirectly affected by a ban, which represents 10 percent of jobs in German manufacturing.
  • In the automotive industry alone a ban would endanger 426,000 jobs, while up to 130,000 jobs at small and medium-sized companies would be at risk.

Hyundai, the world’s fifth largest automaker announced its agreement with Audi on Wednesday (June, 20,2018) to┬ácollaborate on Hydrogen technology and asked governments around the world to support Hydrogen powered cars over battery powered vehicles, as the former is more complex to build and will not destroy jobs.

My 2 Cents:

Large auto companies now agree that battery powered cars are easier to build and cheaper to maintain.

The report conveniently sidesteps from analyzing the number of jobs that will be created due to advancements in zero-emission technology.