Suppliers followed suit. Evtec, then known as Liberty Aluminium, invested tens of millions of pounds in new machines, some of which sit idle but are still being paid off.
Petrol car sales in the EU declined to around 40 percent in 2021 from over 45 percent in 2015 and will fall further as Europe goes electric.Major engine parts suppliers like Vitesco Technologies Group AG and Schaeffler are already investing in transitioning to electric, but smaller players like Evtec – for which tracking data is not widely available – must adapt or die.
German supplier Bosch is transforming its plant in Rodez in southern France away from diesel injectors to new products including hydrogen fuel cells, cutting 750 of 1,250 jobs. In January, the German supplier will split its business into two main divisions, one focused on EV components and the other on higher-value diesel technology to bring in cash as that business winds down.
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