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With huge sums invested in ICE cars German manufacturers are reluctant to commit to EVs

With huge sums invested in ICE cars German manufacturers are reluctant to commit to EVs

Reuters is reporting on the internal angst in the German car industry, and in this case, VW.

The Germans have been slow on the uptake with regard to EVs. Now they are warning that a wholesale change to producing EVs will lead to 25,000 fewer jobs in VW factories. The fact is that EVs are less complex than ICE car, require fewer components and are simply easier and quicker to put together. VW, BMW and Daimler Benz have huge sums invested in their current range of ICE models which generate huge profits,  hence the reluctance to make the wholesale change to EVs.

We think that they risk being left behind and that the consequence of not reacting to the shift to EVs will result in many more job losses as their core market declines.

You can read the article here.