Hyundai Motor Co. is moving toward electric vehicles to join the global automotive trend, but its workers at the leading automaker fret over the prospect of less assembly work and want job security in the changing business environment.
The number of components used in EVs is expected to decline by 37 percent compared with internal combustion engine cars, and a 10 percent surge in domestic EV production will cut over 4,700 jobs next year, the Korean Automobile Manufacturers Association (KAMA) said in a report.
Investors welcomed Hyundai’s U.S. investment plan to expand its presence in the key market, but its labor union has called for the company to step up the domestic EV production capacity.