Demand for skilled electric vehicle talent is poised to reach an all-time high in 2024 as EV manufacturers race to meet the growing appetite for green mobility solutions through new products and capacity expansion, said experts at Deloitte and CareerNet and company executives.
Homegrown EV and EV component makers such as Switch Mobility, EKA Mobility, GreenCell and ARENQ are anticipating the talent to reach as high as 200%. This is leading companies such as Tata Motors, the country’s largest EV maker, to tap entry-level talent from technical colleges and lateral talent from automotive and related industries. In addition, these companies are also fulfilling the robust demand by reskilling the existing workforce, said the executives.
According to CareerNet Technologies, a talent solutions firm, nearly 600,000 jobs were created in 2023, doubling from the previous year. “This is expected to grow 120-130% in 2024,” said Anshuman Das, chief executive, CareerNet.
Deloitte’s analysis of automotive OEMs showed that EV talent commands a salary premium of as much as 37% over ICE talent in the same company. “With strong EV focus, companies are resorting to ‘buy strategy’ for the short term and infusing additional financial resources to get the best team on board for long term success,” said Neelesh Gupta, director, Deloitte.
Job profiles that are in demand include battery management system engineers, electric powertrain engineers, procurement engineers, charging infra professionals, and UI & UX engineers.
Revving up on EV talent
“Increasing demand for EV and the development of new products is driving this increase,” said Sitaram Kandi, vice president – HR, Passenger Vehicles and Electric Vehicles, Tata Motors.
Tata Motors expects a surge in hiring at its EV division in the coming months.
“We have observed a 15% augmentation in our recruitment activities compared to the previous year (FY2023),” said Kandi.
Tata Motors is largely hiring BTech and MTech engineers for research & development, design, and production from 12 to 15 premier engineering institutions. The automaker is also investing in reorienting and reskilling existing workforce, predominantly mechanical engineers.
Securing experienced talent in auto electric and electronics is a challenge due to the limited availability. Solution: attractive remunerations. “We offer competitive remuneration packages that are among the best in the industry,” said Kandi.
EV manufacturer Switch Mobility has a team of 280 members, of which 118 are in the R&D department, working on products like the EiV22 electric double decker bus.
“We’re doubling down on talent acquisition this year, focusing on crucial areas like engineering, manufacturing, sales, and marketing,” said Mahesh Babu, CEO, Switch Mobility.
The company’s expansion plans include hiring up to 200 people depending on the need.
“The competition for niche talent like EV experts is definitely pushing up acquisition costs,” said Babu. As a result, like others, Switch Mobility too has a dual-pronged approach. We actively recruit experienced professionals while simultaneously investing in our talent pipeline,” he said.
EKA Mobility, an automotive and technology company, currently has around 350 employees. “Given our significant expansion & growth plans in the next 2-3 years….we intend to hire about 500 more people this year and reach near about 800-850 overall workforce in FY24-25,” said Anay Deshpande, Head-HR, EKA Mobility.
Last year, EKA Mobility onboarded close to 150 people and this year, it is set to increase hiring more than threefold, mostly in the core technical fields of R&D, product planning, operations, etc. It is also hiring from across multiple domains, including battery operations, last mile service support, electrical motors expert, etc. Recently, EKA entered into a long-term strategic and equity partnership with two global conglomerates–Mitsui Co. & Ltd. (Japan) and VDL Group (Netherlands). The overall threshold of average salaries has gone up by almost 2x to 3x for EV companies, said Deshpande.
GreenCell, a shared electric mobility player, is ramping up its headcount by 1.5 times in 2024, according to a company spokesperson. Last year, the company hired around 130 employees.
ARENQ, a manufacturer and distributor of storage batteries, is planning to hire 150 to 200 people in the next few months to fuel footprint expansion, CEO V.G. Anil said.
