The United Auto Workers union said it reached a new tentative deal with Ford that could bring an end to a six-week strike at one automaker while negotiations continue at General Motors and Chrysler-parent Stellantis.
Photo: Michael Swensen/Getty Images<br>Ford Motor posted $1.2 billion in net income in the third quarter, swinging from a loss in the prior-year period, but it withdrew its guidance for the year, citing the impact of the United Auto Workers strike.
The company also said it is pushing out $12 billion in planned investment on electric vehicles, reiterating concerns about consumer demand and pricing pressure from competitors.
It plans to delay a second battery plant in the U.S., a facility in Kentucky that is a joint-venture with Korean battery-maker SK On.
Persons:
Michael Swensen
Organizations:
United Auto Workers, Ford, General Motors, Chrysler, Korean, SK
Locations:
U.S, Kentucky