In an interview, India Managing Director of Bosch, Soumitra Bhattacharya said that Indian unit of the world’s largest auto-parts supplier will cut jobs. It is because the South Asian nation witnesses one of its worst auto sales slowdowns in decades.
company will cut “a couple of thousand” jobs in India in the next four years, about 10 per cent of 3,700 white-collar and a slightly higher percentage of 6,300 blue-collar jobs will be cut.
Across the world carmakers will be shed 80,000 jobs in the coming years amid shrinkings. This in turn will hit the autopart makers. Bosch expects an auto sales recovery in India in next two-three years after a steep plunge in 2019. It is due to regulatory changes, threat of electrification, a liquidity crunch and an economic slowdown.
Still, the German component maker sees the demand for internal combustion engine vehicles leading growth in the auto industry in India. Both ICE and electric powertrains will coexist for a long time, Bhattacharya said. He forecast that 80 % of the vehicles will run on ICE the rest on electric by 2030 in the nation.
India’s auto sector is going through a cyclical and structural changes because of electrification, technological shift and the advent of shared mobility, Bhattacharya said.
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