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☆ Porsche’s iconic 911 is going hybrid
▼ + stars: | 2024-05-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

A hybrid Porsche 911, with its gas engine assisted by at least one battery-powered electric motor, will officially be revealed in an online event on May 28. Porsche itself already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car but a hybrid 911 is another matter. This new hybrid model will be the closest Porsche can get to an electric 911 without raising those sorts of philosophical questions. But we do know the hybrid 911 is clearly faster than the current purely gas-powered 911. The faster time indicates the hybrid 911 has greater power due to the addition of electric assistance.

Persons: CNN —, ” Jörg Bergmeister, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen Locations: Cayenne

Tesla plans to lay off more than 10 percent of its work force in an effort to cut costs, Elon Musk, the automaker’s chief executive, told employees on Monday. The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. The email was earlier reported by Electrek, an online news site, and Handelsblatt, a German business newspaper. The move is the latest sign that Tesla may not be as unstoppable as it once seemed. The company’s sales are no longer growing at a rapid pace, and it has been slow to introduce new models.

Persons: Tesla, Elon Musk, Mr, Musk, ”, Electrek Organizations: Elon, The New York Times Locations: Asia, Europe

☆ The Toyota 4Runner is finally entering the future with a hybrid
▼ + stars: | 2024-04-09 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —It’s been almost 15 years since there has been any major change to the popular Toyota 4Runner SUV, a fan favorite among off-road enthusiasts. The new 2025 Toyota 4Runner, like the Tacoma, will be available with Toyota’s iForce Max hybrid system, adding another popular model to Toyota’s broadening hybrid line-up. It comes as more consumers, who may be wary of buying fully electric vehicles, are increasingly turning to hybrids. Toyota’s hybrid compromiseAdding a hybrid option to the 4Runner is part of Toyota’s broad strategy to “electrify” nearly every model in the automaker’s line-up while, for now, offering few fully electric vehicles. The 2025 Toyota 4Runner will also be available in a more luxurious Limited trim.

Persons: CNN — It’s, Max Organizations: CNN, Toyota, EV, Lexus, Tacoma, Cruiser, Energy Locations: Tacoma, ”

☆ Tesla Settles Lawsuit Over a Fatal Crash Involving Autopilot
▼ + stars: | 2024-04-08 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Tesla on Monday settled a lawsuit that blamed the automaker’s driver-assistance software for the death of a California man in 2018, averting a trial that would have focused attention on the company’s technology several months before it plans to unveil a self-driving taxi. The trial stemming from the death of Wei Lun Huang, an Apple software engineer who went by Walter, was scheduled to start Monday with jury selection. The case was one of the most prominent involving Tesla’s Autopilot software, attracting significant public attention and prompting an investigation by the National Transportation Safety Board. Terms of the settlement with Mr. Huang’s children and other members of his family were not disclosed, and Tesla filed court documents seeking to prevent them from being made public. Testimony in the trial would have put Tesla’s autonomous driving software under close scrutiny, further fueling a debate about whether the technology makes cars safer or exposes drivers and others to serious injury or death.

Persons: Tesla, Wei Lun Huang, Walter Organizations: Apple, National Transportation Safety Locations: California

☆ BMW Is a Surprise Winner in Electric Vehicles
▼ + stars: | 2024-03-09 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

The German automaker’s electric vehicles are made on the same assembly line as gasoline cars and look similar from the outside. The company sold 376,000 electric vehicles last year, including some under its Mini brand, a 75 percent increase from the previous year. Electric vehicles accounted for 15 percent of BMW sales in 2023, up from 9 percent the previous year. The company’s growth comes as sales of electric vehicles have risen at a slower pace overall around the world. What is even more surprising is that BMW, unlike General Motors or Ford Motor, made a profit on the electric vehicles it sold.

Organizations: BMW, Tesla, General Motors, Ford Locations: Munich

☆ Dawn Project calls for Tesla boycott in Super Bowl ad campaign over self-driving capabilities
▼ + stars: | 2024-02-11 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

“Tesla has failed time and time again to address the failings in its defective self-driving software,” O’Dowd said Sunday in a statement. In a series of video tests by The Dawn Project, the cars run over a child-sized dummy on a school crosswalk and a fake baby in a stroller. The clips reportedly show two separate incidents involving Tesla cars with activated Autopilot features, according to The Dawn Project. The second ad alludes to an incident where “a self-driving Tesla blew past a stopped school bus,” injuring a child. According to O’Dowd, The Dawn Project set aside a bigger budget this year, anticipating they would purchase ad space in Sacramento.

Persons: Dan O’Dowd, Tesla, Elon, ”, “ Tesla, ” O’Dowd, Elon Musk, ” Tesa, “ It’s, O’Dowd, “, we’re, Washington “, Pete Buttigieg, Joe Biden’s, Biden, Ramishah Maruf, Chris Isidore Organizations: New, New York CNN — Tech, Tesla, Dawn Project, CNN, Dawn, Green Hills Software, CBS Sacramento, CBS, Traffic Safety Administration, National Transportation Safety Board, NHTSA Locations: New York, Santa Barbara , California, Washington ,, Atlanta, Austin , Texas, Tallahassee , Florida, Albany , New York, Sacramento , California, Washington , DC, Dover , Delaware, Traverse City , Michigan, Sacramento, CBS Sacramento, Washington, Traverse City, Delaware, Wilmington , Delaware

☆ Premarket stocks: Main Street is still investing like it’s 2023
▼ + stars: | 2024-02-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Before the Bell spoke to Joe Mazola, director of Schwab Trader Education, about the growing importance of retail investors in markets, where Main Street is investing and why people are still enamored with Elon Musk. Why is it so important to single out retail investors and track where they’re putting their money? Is there a big difference between what retail investors and institutional investors are doing right now? That means the Fed is due to cut rates in 2024, which officials themselves projected in December. We just want some more confidence before we take that very important step of beginning to cut interest rates,” he told “60 Minutes” correspondent Scott Pelley.

Persons: Elon Musk’s, Tesla, Charles Schwab, Schwab, Bell, Joe Mazola, Elon Musk, Joe Mazzola, it’s, they’re, there’s, They’ve, Powell, Jerome Powell, “ We’ve, ” Powell, ”, Price, “, Scott Pelley, Read, 23andMe, Anne Wojcicki, ” Wojcicki, they’ve, Wojcicki Organizations: CNN Business, Bell, New York CNN, Tesla, Big Tech, Nvidia, Amazon, Microsoft, Devices, Schwab Trader Education, Elon, Treasury, Federal Reserve, Investors, CBS, Fed, Nasdaq, CNN Locations: New York, Street, Silicon Valley

☆ The super-rich are buying more ultra-customized Rolls-Royces and Lamborghinis
▼ + stars: | 2024-02-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +10 min

Lamborghini sold more than 10,000 vehicles last year for the first time ever and Ferrari had a more than 17% increase in revenue. But customers purchasing Lamborghinis, Rolls-Royces and Bentleys have an even wider array of infinitely customizable paint colors and interior materials, to start with, than carmakers offer for less expensive brands. If the customer has a favorite shirt, for example, the car paint could be matched to the fabric color. At Dixon’s Rolls-Royce dealership three quarters of the roughly 90 cars sold each year include some degree of custom options, she said. While she and Rolls-Royce’s design team can provide guidance, in the end, the choices have to be the customer’s.

Persons: Royce, Ferrari, Lamborghini, Bentley, ”, Stephan Winkelmann, Lewis Hamilton, Altrata, Royce Cullinan, Javier Gonzalez Lastra, “, ” Gonzalez Lastra, Pietro Frigerio, Kellyn Dixon, Dixon, Bugatti Chiron, Bugatti, Chiron, Lamborghini’s Winkelmann Organizations: California CNN, Lamborghini, Ferrari, Bentley, Royce, CNN, Ferrari’s, Tema, Volkswagen, Ford, Art Basel Miami Beach, Rolls Royce, Bugatti, Bugatti Bugatti Locations: Irvine, California, Newport Beach , California, Irvine , California, Goodwood

☆ Friday, Jan. 19, 2024: Cramer breaks down 'powerful move' in this semiconductor holding
▼ + stars: | 2024-01-19 | by ( Delon Thornton | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday, Jan. 19, 2024: Cramer breaks down 'powerful move' in this semiconductor holdingJim and Jeff discuss the upgrade of this semiconductor stock. They also dive into this big tech stocks big market move. Finally, they discuss this automaker’s outlook as EV demand declines in the U.S.

Persons: Cramer, Jeff Locations: U.S

☆ Elon Musk will meet with Israel’s president amid criticism over antisemitic post
▼ + stars: | 2023-11-27 | by ( Michelle Toh | Alex | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Elon Musk is expected to meet with Israeli President Isaac Herzog on Monday as he continues to battle a firestorm over his public endorsement of an antisemitic conspiracy theory on his social media platform, X. Even before the latest tumult, X had faced criticism for the prevalence of antisemitic discourse on its platform. In September, Musk threatened to sue the ADL for defamation, claiming that the group’s reports have hurt advertising sales on X. X has hit back against similar claims from progressive media watchdog Media Matters, which in an analysis earlier this month also highlighted antisemitic and pro-Nazi content on X. In an interview with CNN’s Wolf Blitzer on Sunday, Herzog spoke of the bittersweet moment seeing freed hostages reunited with their families.

Persons: Hong Kong CNN — Elon Musk, Isaac Herzog, Herzog, ” Musk, Tesla, Whites, ”, Musk, “, —, X, CNN’s Wolf Blitzer, ” Herzog, Blitzer Organizations: Hong Kong CNN, Monday, SpaceX, White, Twitter, Defamation League, Disney, IBM, Fox Sports, European Commission, Center, Media Locations: Hong Kong, Israel

☆ Nissan leads $2.5 billion investment to build two more EVs in UK
▼ + stars: | 2023-11-24 | by ( ) edition.cnn.com time to read: +3 min

London — Nissan will pump 1.12 billion pounds ($1.4 billion) into its British plant to build electric versions of two models, offering a boost to the country’s auto industry and a UK prime minister desperate to attract foreign investment. In 2021, the company announced a $1.4 billion investment to build a second, 9 gigawatt-hour (GWh) battery plant in Sunderland with Chinese partner Envision AESC. Its 2021 battery investment was a show of confidence when other foreign investors were avoiding the UK after Brexit led to years of uncertainty around the country’s trading relationships. The Nissan deal comes just months after India’s Tata Motors said it would invest £4 billion ($5 billion) in a UK electric vehicle battery plant to supply its Jaguar Land Rover factories. The automaker’s latest UK investment comes despite Sunak’s decision in September to delay by five years a ban on sales of new petrol cars.

Persons: Rishi, ” Sunak, ” Nissan’s, Alan Johnson, ”, Makoto Uchida, Brexit, Sunak, India’s Tata Organizations: London, Nissan, Investment, BBC, India’s, India’s Tata Motors, Rover, Industry, Tata Locations: Sunderland, England, Britain, Europe

☆ Tesla launched its own car insurance. These drivers say it's a lemon.
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +20 min

Tesla Insurance, launched in 2019 by the electric-car company, has promised policyholders “vastly better” service than rivals, as Tesla chief Elon Musk put it in April 2022. “What do they have, three people answering phone calls?”Complaints about Tesla Insurance are drawing scrutiny from state regulators and the plaintiffs’ bar. And there’s no way to know exactly how many have been made against Tesla Insurance and how its record compares with competitors’. That fall, Tesla launched InsureMyTesla, a new insurance offering for U.S. Tesla owners, in partnership with Liberty Mutual Insurance Co. Lester F. Aponte, a Los Angeles attorney who signed up for Tesla Insurance in August, described a maddening ordeal to obtain proof of insurance.

Persons: Mark Bova, lurched, “ I’m, ” Bova, policyholders “, Elon Musk, Musk, Bova, he’s, Tesla, ”, Musk’s, Virginia –, Phil Fioresi, Tesla’s adjusters, adjusters, ” Zachary Kirkhorn, ” Kirkhorn, Teslas, InsureMyTesla, it’s, It’s, Chanda Santiago, ” Santiago, Lester F, Aponte, haven't, Understaffed, “, —, Policyholders, Jonathan Garcia, Garcia, adjuster, Scott Sawyer, Sawyer, Lauren Lee Sawyer, ” Sawyer, –, Steve Stecklow, Koh Gui Qing, Norihiko, Mike Scarcella, John Emerson, Brian Thevenot Organizations: Green, U.S . Army Special Forces, Tesla Insurance, Tesla, Reuters, Bureau, Twitter, U.S, SpaceX, Ohio Department of Insurance, California Department of Insurance, Data, AAA, The Auto Club Group, Liberty Mutual Insurance Co, Liberty Mutual, Markel, National Insurance Company, State National, State, Facebook, Better, policyholders, Better Business Bureau Locations: Maryland, That’s, California , Utah , Illinois, Virginia, South San Francisco , California, California, Draper , Utah, Texas, policyholders, InsureMyTesla, U.S, Illinois, Colorado, Ohio, Florida , Georgia, Washington, Santiago, Los Angeles, Draper, North Carolina, Riverside , California

Dockworkers said they would expand their blockade of the automaker’s shipment to all ports in Sweden next week, after launching the action at four key locations. The electricians’ union said its members would stop servicing Tesla charging stations when they needed a repair, and maintenance workers said they wouldn’t clean Tesla facilities. On Monday, the IF Metall trade union, which represents 300,000 workers across the country including the Tesla mechanics, said its talks with company representatives had ended without resolution. Tesla, which entered Sweden in 2013, did not respond to requests for comment. The company told Sweden’s TT News Agency that it followed Swedish labor market rules but had chosen not to sign a collective agreement.

Persons: Tesla, Dockworkers Organizations: IF, Sweden’s TT News Agency Locations: Sweden, Swedish

☆ GM-UAW agreement expected to include more affordable Bolt EUV
▼ + stars: | 2023-11-06 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. GM said on Monday it would not comment on the tentative agreement pending ratification by the UAW. The UAW summary did not specify products or timing for GM's Fairfax and Lansing plants. GM currently builds the Chevrolet Malibu and Cadillac XT at Fairfax and the Cadillac CT4 and CT5 and Chevrolet Camaro in Lansing. Chief Executive Officer Mary Barra has said the current Bolt will be phased out of production at the end of this year.

Persons: Rebecca Cook, GM's Fairfax, Mary Barra, Ford, ”, Bill Rinna, “ BEV, Sam Fiorani, Stellantis, Paul Lienert, Matthew Lewis Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights DETROIT, General Motors, Chevrolet, Cadillac, Reuters, UAW, GM, Chevrolet Malibu, Fairfax, Ford, AutoForecast Solutions, Thomson Locations: Lake Orion , Michigan, U.S, Kansas, Michigan, Lansing, Fairfax , Kansas, Fairfax, Lansing ., Detroit

TOKYO (AP) — Toyota’s July-September profit jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings. Toyota Motor Corp. reported Wednesday 1.28 trillion yen ($8.5 billion) in quarterly profit, up from 434 billion yen the previous year. Quarterly sales rose 24% to 11.43 trillion yen ($75.7 billion) from 9.22 trillion yen. Political Cartoons View All 1227 ImagesToyota is expecting its vehicle sales to grow in most major regions, officials said. A shortage of computer chips caused by the social restrictions of the coronavirus pandemic had previously slammed the supply chain and hurt Toyota sales.

Persons: —, Hannah Schoenbaum, Yuri Kageyama Organizations: TOKYO, Toyota Motor Corp, Toyota, U.S, Camry, Lexus, Tesla, Vehicles Locations: U.S, Europe, Japan, Asia, China, North Carolina, Greensboro, North America, Kentucky, Raleigh, N.C

☆ Canadian Auto Workers Walk Out on Stellantis
▼ + stars: | 2023-10-30 | by ( Vipal Monga | ) www.wsj.com time to read: 1 min

A Stellantis assembly plant in Windsor, Ontario, was already shut for retooling before the strike. Photo: REBECCA COOK/REUTERSTORONTO—Canadian auto workers went on strike against Stellantis NV after midnight Monday, when the two sides failed to reach an agreement. The walkout by about 8,200 members of Canada’s Unifor union will close five Stellantis plants in Canada. The immediate impact on the automaker’s production will be limited, however, because the company’s largest facility—an assembly plant in Windsor, Ontario, that makes the Chrysler Pacifica, Voyager and Grand Caravan minivans—had already been shut for retooling.

Persons: REBECCA COOK, Canada’s Organizations: retooling, REUTERS TORONTO —, Stellantis NV, Chrysler Pacifica Locations: Windsor , Ontario, Canada, retooling

DETROIT (AP) — The United Auto Workers union has widened its strike against General Motors, the lone holdout among the three Detroit automakers, after reaching a tentative contract agreement with Jeep maker Stellantis. About 14,000 UAW workers had been on strike at two Stellantis assembly plants in Michigan and Ohio, and several parts distribution centers across the country. Workers also will get cost-of-living pay that would bring the raises to a compounded 33%, with top assembly plant workers making more than $42 per hour. Like the Ford contract, the Stellantis deal would run through April 30, 2028. Negotiations between the UAW and Stellantis had intensified Thursday, the day after the Ford deal was announced.

Persons: ”, Erik Gordon, Ford, Stellantis, Shawn Fain, ” “ Everybody’s, Larry Montgomery, John Rutherford, Spring Hill didn’t, Fain, “, ” Fain, Rich Boyer, Gordon, Bruce Baumhower, Baumhower, Jermaine Antwine, Bajak, John Raby, Corey Williams, Haleluya Organizations: DETROIT, United Auto Workers, General Motors, Detroit, UAW, GMC Acadia, Cadillac, University of Michigan, GM, Ford, ” UAW, Workers, Toyota, Tesla, Jeep, Hollywood Locations: Hill , Tennessee, North America, Texas , Michigan, Missouri, Tennessee, Belvidere , Illinois, Spring Hill, Stelantis, Michigan, Ohio, Stellantis, Belvidere, Trenton , Michigan, Toledo , Ohio, Sterling Heights , Michigan, Pontiac , Michigan, Boston, Charleston , West Virginia, Jersey City , New Jersey

DETROIT (AP) — Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday. Political Cartoons View All 1223 ImagesLike the Ford contract, the Stellantis deal would run through April 30, 2028. Jermaine Antwine and other Stellantis workers picketing outside the automaker’s Sterling Heights, Michigan, were excited Saturday after hearing news of a tentative deal. The union and Stellantis went into intense negotiations on Thursday, the day after the Ford deal was announced, and finalized the agreement on Saturday. Under the Ford deal, workers with pensions also will see small increases when they retire, and those hired after 2007 with 401(k) plans will get large increases.

Persons: Stellantis, Bruce Baumhower, “, Fain, Baumhower, Shawn Fain’s, ”, Jermaine Antwine, Antwine, Ford, Haleluya Hadero, Corey Williams Organizations: DETROIT, United Auto Workers, Ford, Workers, Jeep, UAW, General Motors, GM, Saturday, Kentucky, Plant, Detroit, Hollywood, Teamsters, AP Locations: Michigan, Ohio, Stellantis, Belvidere , Illinois, Toledo , Ohio, Sterling Heights , Michigan, Pontiac , Michigan, Sterling, Texas , Michigan, Missouri, Louisville, Jersey City , New Jersey

☆ Gavin Newsom says ‘divorce is not an option’ for US and China after Xi Jinping meeting
▼ + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —“Divorce is not an option” when it comes to the world’s two largest economies, California Governor Gavin Newsom told CNN on Wednesday following his meeting with Chinese leader Xi Jinping. In an interview with CNN’s Christiane Amanpour, Newsom said his meeting with Xi in Beijing had revived hope that the United States and China were at a turning point in their relations. Newsom — the first US governor to meet with Xi in six years — is in China for a week-long visit to promote action on climate change. Xi also expressed the hope that the governor’s visit to China would help stabilize the broader relationship. If it were a country, California “would be the fifth largest economy in the world,” Newsom told CNN.

Persons: Hong Kong CNN —, Gavin Newsom, Xi Jinping, CNN’s Christiane Amanpour, Newsom, Xi, “ We’ve, We’ve, ”, Newsom —, ” Newsom, “, that’s Organizations: Hong Kong CNN, CNN, Xinhua, Global Times, BYD Locations: Hong Kong, California, Beijing, United States, China, decouple, Shenzhen

☆ Ford’s electric drive is going the wrong way
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook Acquire Licensing RightsNEW YORK, Oct 26 (Reuters Breakingviews) - Ford Motor (F.N) may have dealt with its labor problem. While the ebb and flow of fossil-fueled fortunes is nothing new, Ford’s electric-car pivot is printing more red ink than ever. But Ford is trying to scale to profitable sales and right now, things are going the wrong way. The company’s electric division recorded a nearly $37,000 operating loss per battery-powered ride sold this quarter, 51% worse than last year. With once sky-high electric prices now free-falling, Ford faces the brass-tacks problem of simply grinding down costs.

Persons: Jim Farley, Rebecca Cook, can’t, nix, Ford, Jonathan Guilford, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Ford Motor, North American, REUTERS, Reuters, Ford, General Motors, Cox, X, Unilever, Thomson Locations: Detroit , Michigan, U.S, Detroit

☆ Document reveals Tesla Cybertruck won't be cheap, but it will be heavy
▼ + stars: | 2023-10-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

The document also reveals that the Cybertruck, like other electric trucks, will be heavy. In Tesla vehicles, as in most electric vehicles, all-wheel-drive is created by having one or two motors driving the front wheels and one or two driving the back wheels. Because of their heavy battery packs, electric trucks tend to weigh more than gas-powered trucks, adding as much as 2,000 pounds to their GVWR. When Tesla first unveiled the Cybertruck in late 2019, no other automakers offered electric trucks on the market. Various automakers have recently had to offered discounts on their electric vehicles to help clear backlogs of unsold EVs on dealer lots.

Persons: Tesla, Cybertruck, Elon Musk, ” Musk Organizations: CNN, Traffic Safety Administration, Ford, General Motors, Rivian, GM Locations: America

☆ GM earnings give its restive workers an inch
▼ + stars: | 2023-10-24 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

On Tuesday, GM reported strong earnings that will embolden staff who have walked out at all three of the big Detroit firms. GM beat analysts’ expectations for third-quarter profit despite a $200 million hit from the strikes that started in September. That said, the firm run by Mary Barra also ditched its official forecast as it wrestles with the $200 million weekly costs from labor disruptions. Fortunately for GM, talks with its union seem to have narrowed in from earlier demands that would have vaporized the industry’s operating profit. Ongoing strikes by the United Auto Workers union, which represents GM employees, cost the company $200 million in the third quarter.

Persons: walkouts, Mary Barra, Shawn Fain, Tesla, Elon, Fain, John Foley, Sharon Lam Organizations: General Motors Company, Reuters, United Auto Workers, General Motors, Ford Motor, GM, Cox Automotive, UAW, Elon Musk’s, United Auto Workers union, Detroit, Thomson Locations: Queens , New York, U.S, Detroit, Wells, GM’s Arlington

☆ UAW Strike Expands to Stellantis’s Largest U.S. Factory
▼ + stars: | 2023-10-23 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

UAW union members have been striking over job security and pay as automakers push forward in developing EV’s, which require fewer workers and cost more in raw materials. So what does that mean for the future of auto workers and the union? Illustration: George Downs/The Wall Street JournalThe United Auto Workers on Monday expanded its continuing strike against Detroit’s car companies by shutting down a pickup-truck plant, a surprise action that hit Chrysler-parent Stellantis ’s largest U.S. factory. The 6,800-worker plant, located in Sterling Heights, Mich., in suburban Detroit, makes the Ram 1500 pickup truck, among the automaker’s most profitable vehicles. The walkout brings the total number of UAW-represented on strike at the Detroit automakers, including Ford Motor and General Motors , to more than 40,000, the UAW said.

Persons: George Downs Organizations: Street, United Auto Workers, Chrysler, U.S ., UAW, Detroit, Ford Motor, General Motors Locations: Sterling Heights, Mich, Detroit

New York CNN —The United Auto Workers union sent 6,800 Stellantis employees to the picket line Monday morning in a surprise, targeted strike at the company’s Ram truck facility. The Sterling Heights Assembly Plant is Stellantis’ “largest plant and biggest moneymaker,” UAW said in a statement Monday. The first was at Ford on October 11, when the UAW went on strike at that automaker’s largest plant, the Kentucky Truck Plant in Louisville. Expanding strikeThere are now more than 40,000 UAW members on strike as it enters its sixth week, with 14,600 on now on strike at Stellantis, joining the 16,600 on strike at Ford and 9,200 on strike at GM. But the union has stopped short of having all 145,000 members at the three companies all be on strike.

Persons: ”, Stellantis, Fain, Anderson Organizations: New, New York CNN, United Auto Workers, Sterling, Sterling Heights Assembly, ” UAW, Dodge, Chrysler, Ford, General Motors, UAW, Kentucky, Plant, Fiat Chrysler, European, PSA Group, “, ” CNN, GM, Big, Anderson Economic Locations: New York, Sterling Heights, Detroit, Sterling Heights , Michigan, United States, Mexico, Warren , Michigan, Sterling, Louisville, Stellantis, Ford, Europe

BANGKOK (AP) — Shares tumbled in Asia on Thursday following a retreat on Wall Street after big U.S. companies delivered mixed profit reports and Treasury yields added pressure on stocks. Exports rose 4.3% while imports sank 16.3% in September and the trade balance swung to a surplus of 62.4 trillion yen ($410 billion). A big threat for the global economy is what oil prices will do to inflation. It rose 2.6% after reporting stronger profit than expected for the latest quarter as its revenue rose after it hiked prices. In other trading early Thursday, the dollar fell to 149.80 Japanese yen from 149.93 yen.

Persons: Australia's, Sensex, ” Yeap Jun Rong, IG, Brent, Morgan Stanley, Gold Organizations: Hamas, Nikkei, Bank of, New York Mercantile Exchange, Dow Jones Industrial, Nasdaq, Netflix, United Airlines, American Airlines, Delta Air Lines, Procter, Gamble, Treasury Department, Federal Reserve Locations: BANGKOK, Asia, Hong Kong, Tokyo, Seoul, Japan, Israel, Bank of Korea, Shanghai, Gaza, Tel Aviv, U.S

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