The electric vehicle shakeup hits Audi
More and more automakers are reckoning with the twin forces of a soft global auto market and the need to position themselves for a more electrified future.
Driving the news: Audi said yesterday it's cutting 9,500 jobs by 2025 as it seeks to boost earnings and navigate the "transformation of the automotive industry towards electric mobility and digitalization" — but it's also adding 2,000 jobs focused on electric vehicles and digital tech, according to the Wall Street Journal.
The big picture: Audi is not navigating this bumpy transition alone.
- Daimler said this month that it's planning over $1 billion in job cuts over the next three years, citing the costs of moving the company toward a more climate-friendly product line and meeting EU emissions targets.
- As Axios' Joann Muller noted during GM's recent strike, that dispute was in part a sign of how automakers' traditional business models will have to change.