As the international consulting firm announced, the leading international car companies have doubled their investments in electric car factories last year. At the same time, less money is flowing into the construction of new factories. The current employment cuts are "just a taste of what's to come".
As EY further elaborates, the 16 largest car manufacturers announced projects for electric vehicles with a total volume of 8.4 billion euros while at the same time the investments in new or modernized factories declined.
Pioneering the momentum for electromobility is China, where production capacities of 6.1 billion euros have been flowing for electric vehicles since 2015. Germany followed with 4.4 billion euros and France with 1.6 billion euros.
Relatively modest so far are the US companies with 1.1 billion, with Ford and GM now larger investments were announced.