In the next 20 years, UBS predicts that an increasingly large amount of new cars will be electric. By 2025, they predict that about half of all cars sold globally will be electric and by 2030 it is expected to reach nearly 100%. Harley Shaiken from UC Berkeley said “This is probably the biggest change in the one hundred plus year history of this industry.”
The future of employment across the car industry looks bleak, as automakers are transitioning to EV technology and jobs will be lost. An expert predicts that tens of thousands of jobs could vanish from this transition alone. Automakers need fewer employees for electric cars versus those who work on internal combustion engines, 30% – 40%.
That means a lot less workers in factories all around the country when we say goodbye to gas powered vehicles entirely.
Haiken warns about what he sees coming soon: “The impact is going to ripple through our economy and society.”