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Age of electric cars to drive painful job cuts for Japan and Germany

EVs requiring half the parts of conventional autos will bring tectonic shift to industry

FRANKFURT, Germany/TOKYO -- The electric car represents a breakthrough both in combating climate change and transforming industry through technology. But for Japan and Germany, whose economic success rests on gasoline- and diesel-powered cars, the disappearance of combustion engines comes with painful job cuts. 

Japan wants all new cars to be electric vehicles by the mid-2030s, an ambitious goal for a country where purely gasoline powered cars account for about 60% of autos sold nationally. Over 30% are hybrids while pure EVs, plug-in hybrids and fuel-cell vehicles together account for only 1%.

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