China’s electric vehicle makers woo engineers, workers as they scramble for talent to build next-generation cars amid skills shortage
- Massive amounts of fundraising by EV start-ups and an aggressive foray by technology giants into developing new electric models have triggered fierce competition for talent
- Many job candidates are getting multiple offers from different employers, and the promise of a hefty pay rise of up to 50 per cent
“[A shift in the] supply-demand balance occurred in the second half of 2020 when professionals in the automotive industry were becoming rare assets in the job market,” said Hong Lingyun, a senior executive with recruitment services firm Joinlink Consulting. “High-calibre engineers are in severe short supply now that a raft of powerful players have landed in the EV market.”
China’s electric car market is proving an investment magnet for the country’s top technology companies. Telecoms equipment giant Huawei Technologies, smartphone maker Xiaomi, search engine Baidu and drone maker DJI have all jumped on the bandwagon as the country’s motorists increasingly make the switch from conventional to electric cars.
Home appliance giant Midea is also expected to make inroads into the EV segment following its acquisition of Hiconics Eco-energy Technology, a car component supplier, in March.
A drastic transition of the car industry from the traditional combustion engine to electrification, autonomous driving and digital connectivity in recent years has drawn multibillion-dollar investments in the development of new models, construction of production facilities and establishment of sales teams.
It is competing against Chinese rivals NIO, Xpeng and Li Auto, to lure talent specialising in engineering and electronics.