Hyundai Motor Union: Electric Vehicles Lost 70% of Jobs

According to foreign media reports, Ha Bu-young, chairman of Hyundai Motor Union, warned that due to the declining sales in major markets, its workers may face a crisis similar to that of GM’s South Korean subsidiary and said that electric cars are “devils” that will bring unemployment. .

Due to the high labor costs and the decline in sales volume, GM plans to close its South Korea's Gunsan factory in May, while the remaining three factories are still under consideration.

The Korean auto industry is known for its powerful trade unions. Workers' salaries and benefits are often higher than those of other industries. Now this situation has reached a watershed.

In an interview with Reuters later last week, Ha said, “We are deeply anxious about the work and feel the crisis.” In the long run, Ha fears that when the electric car becomes mainstream, it may cause serious damage to traditional car positions. Destructive because they require minimal engine and transmission components. According to the forecast of the Hyundai Motor Union, a strong shift to electric vehicles may cause Hyundai to lose 70% of its jobs. Ha added, "Electric vehicles are disasters. They are demons. We feel very nervous."

He said that due to the decline in sales of older SUVs such as cars and Shengda in the United States and elsewhere, Hyundai Motor Co., Ltd. is located in five factories in Ulsan, South Korea, and three workers are required to extend holidays. Last year, affected by the tight diplomatic situation in China and South Korea, the sales volume of Hyundai Motors and its subsidiary Kia Motors in China fell sharply year-on-year. Both companies have stated that there will only be a slight increase in global sales in 2018.