It’s brutal out there: Audi to slash 4,500 jobs
Following the news of sweeping cuts at Volkswagen, Nissan, and Stellantis, now VW-owned Audi announced plans to slash its workforce by 15%, with thousands of jobs on the chopping block.
After sweeping layoffs at Volkswagen numbering in the tens of thousands, other jobs within the VW Group are getting the axe, with Audi reportedly considering a dramatic staff reduction to cut costs.
German media Manager Magazin, as per Reuters, reported on the news, adding that Audi plans to safeguard production line positions and focus on “indirect” jobs, such as those in development.
That means 2,000 jobs are on the line, with reductions in other parts of the business trimming off 4,500 people in total from the payroll, according to the report.
Last month, Volkswagen – which currently has 10 plants and 300,000 employees in Germany –reported its plan to close three German plants, the first time in the company’s 87-year history that it is closing factories on its home turf. The plan includes cutting tens of thousands of jobs and slashing pay for 10% of its remaining staff.
Audi slashing thousands of jobs in Europe
The carmaker also said it would officially close its Audi plant in Brussels where it makes soon-to-be-retired Audi Q8 E-Tron – an €80,000 electric SUV that suffered from low sales – in a few months. The company announced that it will close the factory on February 28, 2025, with 3,000 workers losing their jobs in the Brussels area.
Audi said that it is in talks with workers’ representatives, but declined to confirm the number of layoffs, Reuters reports.
Audi’s third-quarter sales figures showed a 21% drop in US deliveries to 46,752 units, with almost every model Audi makes showing a dip – except for the e-tron GT EV, which saw a 5% bump to a very modest 673 units, and the Q3 SUV, which saw a 36% increase to 7,422 units.
Things are getting particularly brutal over at Nissan, which is selling part of its stake in Mitsubishi, slashing production capacity, and laying off 9,000 employees.
Back in the US, Stellantis is laying off 1,100 employees from its Toledo Assembly Complex.
Germany, Europe’s largest auto market, is particularly feeling the heat, with a recent study estimating 186,000 jobs could be lost over the next decade as automakers fumble with the transition to EV production. So far, 46,000 autoworkers have lost their job in the country.
It’s grim news, but experts say that the opportunity for new job creation is ripe with potential, as long as Europe remains competitive to still attract investments, reported Euronews. Working against Europe is its high energy costs, which can be up to four times higher than in China and the US. EU tariffs on Chinese-made EVs could also drive up prices and spark tensions, cites the German Association of the Automotive Industry (VDA), according to Euronews.
Of course, not everyone sees it that way: The NGO Clean Transport argues that tariffs are beneficial, in the short term at least, giving the EU auto sector a chance to catch up during the transition.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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