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BANGKOK (AP) — Stellantis plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer, the companies said late Wednesday. The European-based maker of Jeep and Ram and Leapmotor said in a joint statement that they have formed a strategic partnership and joint venture that aims to expand the Chinese EV maker’s sales both inside and outside of China. Stellantis said it expects to benefit from Leapmotor’s “tech-first EV ecosystem” in China to meet its own targets for shifting to electric vehicles. The companies said the 51% Stellantis-led joint venture will have exclusive rights to export and sell Leapmotor’s vehicles outside China. Leapmotor has focused on the mid- to high-end of the EV market in China, selling 111,000 electric vehicles in 2022.

Persons: —, Leapmotor, Stellantis, BEV Organizations: EV, Hong Kong, Fiat Chrysler Automobiles, French PSA Group Locations: BANGKOK, Leapmotor, China, Hangzhou, Hong, Amsterdam

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

The United Auto Workers union has once again escalated its strikes against big Detroit automakers, this time adding a factory that makes Ram pickup trucks for Stellantis. No progress was reported with Ford, which last week said it had the best offer of the three. The union went on strike Sept. 15 at one assembly plant from each company. By taking down the Stellantis factory, the union is signaling Ford and GM to improve their offers, Wedbush analyst Dan Ives said. Each time the automakers make an offer, Fain said, they insist it’s the best they can do, only to return days later with a better offer.

Persons: Shawn Fain, Ford, Stellantis, Dan Ives, Fain, ” Ives, “ We’ve, they’ve, ” Fain, ” ____ Koenig Organizations: United Auto Workers, Detroit automakers, Sterling, General Motors, Ford, UAW, Fiat Chrysler, France's PSA Groupe, GM Locations: Sterling Heights , Michigan, Louisville , Kentucky, Stellantis, Dallas

☆ GM to sell electric Cadillac in Switzerland, other European markets
▼ + stars: | 2023-10-05 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A Cadillac Lyriq electric vehicle (EV) under General Motors is seen during its world premiere on a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsLONDON, Oct 5 (Reuters) - General Motors (GM.N) said on Thursday it would start selling all-electric Cadillac vehicles in Switzerland, the first step in a return to European markets since selling off the Opel and Vauxhall brands in 2017. The Cadillac Lyriq will be the first model available to Swiss drivers, and GM's McQuaid said customers will be able "complete the entire purchase online in a matter of minutes." Electric vehicle (EV) sales are taking off in Europe - more than one in five new cars sold in the European Union in August were fully electric. In 2017, GM sold the Opel and Vauxhall brands, which had lost money for two decades, to France's PSA.

Persons: Aly, Jaclyn McQuaid, GM's McQuaid, BYD, Nick Carey, Paul Simao Organizations: General Motors, Auto Shanghai, REUTERS, Opel, Vauxhall, European Union, Chery, HK, GM, France's PSA, PSA, Fiat Chrysler, Thomson Locations: Shanghai, China, Switzerland, Swiss, Sweden, France, Europe

In a few cases, according to NHTSA, ARC air bag inflators could be blocked by small pieces of debris, stopping the gases from escaping as they should. In May 2023, General Motors recalled 1 million GM vehicles with the air bags. NHTSA estimated the risk of one of these inflators rupturing at one in every 370,000 air bag deployments. But officials said the only way to know if an air bag has the defect is for it to actually rupture. NHTSA and various automakers are still working to get vehicle owners to replace all the air bags involved in that recall.

Persons: Jacob Tarvis, Marlene Beaudoin, Tarvis, inflators, Kia Optima, General Motors, ”, Donna Glassbrenner, Steve Gold, Gold, “, — Ford Organizations: CNN, Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, NHTSA, ARC, Chrysler Town &, General, GM, BMW, Fiat Chrysler Automobiles —, Hyundai, Kia, Benz, Porsche, Tesla, Toyota, Volkswagen Locations: United States, Canada, Turkey, Traverse

Even after escalating its strike against Detroit automakers on Friday, the United Auto Workers union still has plenty of leverage in its effort to force the companies to agree to significant increases in pay and benefits. The UAW could, if it chose to, vastly expand the number of workers who could strike assembly plants and parts facilities of General Motors, Ford and Stellantis, the owner of the Jeep and Ram brands. All three companies said that talks with the union continued on Saturday, though officials said they expected no major announcements. In expanding the strike on Friday, the UAW struck only the parts-distribution centers of GM and Stellantis. Ford was spared from the latest walkouts because of progress that company has made in negotiations with the union, said UAW President Shawn Fain.

Persons: “, ”, Daniel Ives, Sam Abuelsamid, Abuelsamid, Ford, Shawn Fain, Wheaton, ’, Fain, —, “ It's, AutoNation, Mike Stanton, David Barnas, Jodi Tinson, Alexandra Olson Organizations: Detroit, United Auto Workers, UAW, General Motors, Ford, Jeep, GM, Wedbush Securities, Guidehouse, Fiat Chrysler . Service, Cornell University, National Automobile Dealers Association, Associated Press Locations: Detroit, Flint , Michigan, Sterling Heights , Michigan, Canada, United States, New York

☆ Striking auto workers are highlighting their CEOs' multi-million dollar pay. Here's how much the top bosses at Ford, GM and Stellantis make
▼ + stars: | 2023-09-22 | by ( Graham Rapier | Nora Naughton | Associated Press | ) www.businessinsider.com time to read: +10 min

"The reason we ask for 40% pay increases is because in the last four years alone, the CEO pay went up 40%. U.S. companies, in contrast, use grant date value of stock packages awarded to executives during the reporting year. AdvertisementAdvertisementThat's because in some years, talking about a CEO's "realized pay" can obscure exorbitant pay packages approved by company boards. AdvertisementAdvertisementThe CEOs of GM and Ford also saw their compensation packages peak in 2021, before declining slightly in 2022. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic.

Persons: Mary Barra's, Shawn Fain, Fain, Mary Barra, James Farley, Jim Hackett, Stellantis, Carlos Tavares, Mike Manley's, Equilar, Tavares, That's, Manley, —, Harry Katz, Tesla, Elon Organizations: UAW, Service, United Auto Workers, Ford, GM, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Chrysler, CBS, Big, General, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Wall, Silicon, Stellantis, American, European

☆ For Tesla and Musk, Auto Strike Carries Benefits and Risks
▼ + stars: | 2023-09-21 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Activists must get at least 30 percent of workers to sign union cards and force a vote overseen by the National Labor Relations Board. Companies often do all they can to dissuade workers from joining, hiring lawyers and consultants who specialize in defeating union campaigns. The company reported profit of $2.7 billion on sales of $25 billion in the second quarter, giving it a profit margin of about 11 percent. That profit margin is more than that of Ford or G.M., even after an exceptionally profitable period for those companies. In August, United Parcel Service employees won their biggest raises ever in a contract negotiated by the International Brotherhood of Teamsters.

Persons: Tesla, Biden Organizations: National Labor Relations Board, Companies, Amazon, Ford, Fiat Chrysler, Peugeot SA, Hollywood, United Parcel Service, International Brotherhood of Teamsters Locations: Staten, unionize, United States

☆ The UK is delaying the switch to electric cars. Automakers are furious
▼ + stars: | 2023-09-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

A relaxation of 2030 would undermine all three,” Ford (F) UK chair Lisa Brankin said in a statement. “We and the whole automotive industry [need] clarity on the [EV] topic,” the German carmaker said in a statement shared with CNN. ‘Confusion’ will delay switch to EVsThe UK auto industry has been clawing its way back from rock bottom after car manufacturing hit a 66-year low in 2022. Reducing emissions from road transport “is the only way that you will achieve net zero,” Hawes told the BBC. The government’s own independent adviser on climate policy, the Climate Change Committee shares that view.

Persons: carmakers, Rishi Sunak, Sunak, “, ”, Sunak’s, ” Ford, Lisa Brankin, Brankin, carmaker, Mike Hawes, ” Hawes, Jobs, Sadiq Khan, ” Sunak, “ We’re, Alok Sharma, Simon Clarke, EVs, — Gemma Blundell, Doyle, Anna Cooban, Laura Paddison, Rob Picheta Organizations: London CNN, BMW, Oxford, Swindon, CNN, Fiat, Peugeot, Fiat Chrysler, France’s, India’s Tata Group, Society of Motor Manufacturers, Traders, BBC, Conservative Party, Labour Party’s London, Conservative Locations: Germany, France, Spain, Italy, Canada, Sweden, Ellesmere Port, Liverpool, Britain, London, Glasgow

Unions have nowhere near the pull, or members, that they did decades ago, yet something has changed. Fain became president of United Auto Workers this year, but his time with the union began at that then-Chrysler plant in 1994. He vowed to clean up the union and unite members following a wide-ranging scandal that landed two former presidents in prison. The union under Fain has threatened to hit more plants if there is not enough movement from automakers during negotiations. Corporate greed is the problem.”Sean O'Brien, International Brotherhood of TeamstersMuch of what you need to know about Teamsters president Sean O'Brien is right there in his handle for X/Twitter: @TeamstersSOB.

Persons: Shawn Fain, Fain, Fain “, ” Fain, “ We’re, ” Sean O'Brien, Sean O'Brien, James Hoffa, Jimmy Hoffa, Hoffa, O’Brien, O'Brien, ” O’Brien, Fran Drescher, AFTRA Fran Drescher, ”, She's, they're, Drescher, “, —, Television Producers, Michael Winship, Lisa Takeuchi Cullen, WGAE’s, Takeuchi Cullen, ” Meredith Stiehm, Rich Talarico, Peele Organizations: Unions, Hollywood, UPS, United Auto Workers, Chrysler, UAW, General Motors, Ford, Fiat Chrysler, Detroit, Brotherhood, Teamsters, Amazon, Screen Actors, American Federation of Television, Radio Artists, SAG, Associated Press, Alliance, Television Producers, Writers Guild of America, WGA, Television, Writers Guild of America East, “, CBS, Writers Guild of America West Locations: Missouri , Michigan, Ohio, Kokomo , Indiana, Boston, Hollywood

In its annual renumeration report, Stellantis reported CEO Carlos Tavares' 2022 pay was 23.46 million euros. That's a nearly 77% increase over then Fiat Chrysler CEO Mike Manley's 2019 pay of 13.28 million euros. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic. It's far above the typical pay gap at S&P 500 companies, which was 186-1 according to AP's annual CEO pay survey, which uses data analyzed by Equilar. CEO Elon Musk's 2022 compensation was reported as zero in the company's proxy statement, rendering its official pay ratio meaningless.

Persons: — It’s, Shawn Fain, Fain, ” Fain, ”, Mary Barra, James Farley, William Clay Ford, Stellantis, Carlos Tavares, Mike Manley's, “, Equilar, Tavares, That's, Manley, —, Tavares ’, Harry Katz, Tesla, Elon, Tom Krishner Organizations: United Auto Workers, UAW, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Ford, Chrysler, Associated Press, Big, General, Barra, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, GM, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Stellantis, American, European, Detroit

The UAW began striking at factories that make only a few vehicles – Ford Broncos and Rangers, Jeep Wranglers, Chevrolet mid-size pickups and GMC vans. Car prices were rising long before the auto workers even raised the possibility of a strike. Prices are almost certain to rise even if the strike is settled quickly, because the auto makers' labor costs will increase. “They could double our wages and not raise car prices and still make billions of dollars in profit,” he said during an online presentation to union members this week. It's all enough to make many motorists consider avoiding the car lot and keeping their current car a while longer.

Persons: Stellantis, ”, Ivan Drury, isn’t, Garrett Nelson, ” Nelson, “, we’re, Tesla, Drury, Kelley, Patrick Anderson, Shawn Fain, Edmunds Organizations: DALLAS, United Auto Workers, Dealers, General Motors, UAW, Detroit, Ford Broncos, Rangers, Jeep Wranglers, Chevrolet, GMC, Chevrolet Silverado, Tahoe, GMC Sierra, Ford, CFRA Research, GM, Fiat Chrysler, Toyota, Honda, Consumers, Federal Reserve Bank of New, Anderson Economic Group, Stellantis, “ Locations: Edmunds, Mexico, Federal Reserve Bank of New York

☆ Why Stellantis could face a longer strike than Ford or GM
▼ + stars: | 2023-09-15 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

The United Auto Workers labor union launched targeted strikes against the three Detroit automakers early Friday morning. It's the first time in history that the UAW has struck all three of the Detroit automakers at once. GM's Cadillac and Chevrolet brands had just 46 days' and 51 days' worth of vehicles, respectively; the Ford brand had 77 days' worth. Historically, the Detroit automakers have tended to have somewhat larger supplies on hand because their full-size pickups are offered in many different configurations. In contrast to the strike against Stellantis, the UAW's strike against Ford could be relatively brief.

Persons: Ford, Stellantis, GM's, Shawn Fain Organizations: United Auto Workers, Detroit, Ford Bronco, Chevrolet, UAW, Ford Motor, General Motors, Fiat Chrysler Automobiles, French, Peugeot, Cox Automotive, Ford, Detroit automakers, Stellantis, Ford's, Plant Locations: Chevrolet Colorado, U.S, Ford's Michigan, Wentzville , Missouri, Toledo , Ohio

Biden said that when negotiations began, he encouraged leaders of the two sides to stay at the bargaining table as long as possible. The head of the UAW said the union's negotiators “are hard at work at the bargaining table.”The UAW strike is just one of many labor disruptions. Still, a wider strike by the UAW could cause parts of the U.S. economy to shudder. The chain reaction across parts suppliers to the stores and restaurants that auto workers patronize could hurt local economies in Michigan, Wisconsin and other states that could be pivotal in next year’s election. Former President Donald Trump, the early Republican front-runner, said that union workers jobs are at risk because of Biden’s push to use of government incentives to build more EVs.

Persons: Joe Biden, autoworkers, ”, ” Biden, Stellantis, Biden, Julie Su, Gene Sperling, Shawn Fain, “, ’, Suzanne Clark, Joshua Bolten, ” Fain, Joe Brusuelas, Donald Trump, Trump, Jill Colvin Organizations: WASHINGTON, Big, White, United Auto Workers, General Motors, Ford, UAW, GM, Fiat Chrysler, Workers, Labor Department, Democratic, Business, U.S . Chamber of Commerce, RSM, Oxford Economics, Republican, NBC News Locations: Detroit, California , Oregon, Washington, U.S, Michigan , Wisconsin, China, United States, America

But not all of the 146,000 UAW members at company plants are walking picket lines, at least not yet. Top-scale assembly plant workers make about $32 per hour, plus large annual profit-sharing checks. The Ford plant that's on strike employs about 3,300 workers, and it makes Bronco SUVs and Ranger midsize pickup trucks. Under the UAW strategy, workers who go on strike would live on $500 per week in strike pay from the union, while others would stay on the job at full pay. It’s unlikely the companies would lock the remaining workers out of their factories because they want to keep building vehicles.

Persons: Joe Biden’s, ”, Liz Shuler, Shawn Fain, Britney Johnson, It’s, Candace Bowles, “, Bowles, I’m, Fain, ” Fain, “ We’re, Ford, didn’t, Marick, ” Masters, “ They’re, Mary Barra, you’ve, Farley, Jeff Schuster, Stellantis, Schuster, ____ Williams Organizations: DETROIT, United Auto Workers, General Motors, Ford, “ Workers, AFL, UAW, GM, Fiat Chrysler, Toledo Jeep, Bronco, Chevrolet Colorado, GMC, Chevrolet Express, Wayne State University, U.S, CNBC, Global Locations: Wentzville , Missouri, Wayne , Michigan, Detroit, Toledo , Ohio, Toledo

Fain says the targeted strikes will give the union leverage in contract talks and keep the auto companies guessing about the UAW’s next move. Currently, UAW workers hired after 2007 don’t receive defined-benefit pensions. If a walkout occurs, workers would receive about $500 a week in strike pay — far short of what they earn while they’re working. During a 40-day UAW strike in 2019, GM alone lost $3.6 billion. The union’s inability to organize U.S. factories run by foreign automakers represents a disadvantage for the union because those companies pay less than Detroit companies do.

Persons: Shawn Fain, Fain, Motors, They’ve, Mary Barra, ” Ford, ” Fain, “, that’s, Sam Fiorani, ” Fiorani Organizations: DETROIT, — Auto, General Motors, Ford, United Auto Workers, UAW, Detroit, GM, Fiat Chrysler, AutoForecast Solutions, Anderson Economic, UPS, Teamsters, Cornell University Locations: United States, Korean, Stellantis, Detroit, Europe, Asia, U.S, Midwest, That’s, —

But there’s a good chance at least some of them, at a mix of plants and companies, will walk out. Those limited, targeted strikes could be enough to grind production to a halt at America’s three unionized automakers. One advantage for the union of a targeted strike is the potential to save resources and extend a possible walkout. Striking union members are eligible for $500 a week from the union’s strike fund. The companies did not respond to questions Wednesday about their plans if faced with the targeted strikes Fain described on Wednesday.

Persons: Shawn Fain, Fain, Jeff Schuster, ”, Schuster, Jim Farley, Farley, Bill Ford, ” Farley, “, ” Ford, can’t, “ We’re, Patrick Anderson, Anderson, That’s, Ford Organizations: Detroit CNN, General Motors, Ford, United Auto Workers, UAW, America ’, GlobalData, GM, Detroit Auto, Jeep, Dodge, Chrysler, Anderson Economic Group, Fiat Chrysler, PSA Group Locations: America, Detroit, North America, Michigan, Edmunds, That’s, European

DETROIT (AP) — Leaders of the United Auto Workers union are considering targeted strikes at a small number of factories run by each of Detroit's three automakers if they can't reach contract agreements by a Thursday night deadline. At the Tuesday meeting, Fain didn't say whether the union would target vehicle assembly plants or component factories, one of the people said. Strikes at parts plants could force production halts at multiple assembly factories. The union and companies have said they’re willing to talk in an effort to work out deals before the deadline. Yet there was optimism on both sides that they still could reach reach deals before the deadline.

Persons: Shawn Fain, Fain, Ford, “ We’ve, Mark Reuss, ” Reuss, it’s Organizations: DETROIT, —, United Auto Workers, UAW, General Motors, Stellantis, Automotive, U.S, Labor, GM, Ford, Fiat Chrysler Locations: Detroit, Stellantis, Korean

☆ How 500 votes made Shawn Fain one of America’s most important people
▼ + stars: | 2023-09-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Shawn Fain is one of the most important people in the US economy today. United Auto Workers President Shawn Fain, middle, walks in the Labor Day parade in Detroit, Monday. Fain finished second in the first vote, with 38%, but only 600 votes behind Curry, or less than 1%. This time Fain edged out Curry by less than 500 votes. “The fact that Shawn Fain was the first popularly elected president is significant,” said Patrick Anderson, CEO of Anderson Economic Group, a Michigan research firm.

Persons: Shawn Fain, Fain, ”, “, He’s, he’s, Ray Curry, Paul Sancya, Curry, Wheaton, ” Wheaton, it’s, Patrick Anderson, ” Fain, ’ Fain, Jim Cramer, CNN’s Jake Tapper, “ It’s, we’ve Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, Jeep, Dodge, Chrysler, Big, ”, UAW, Fiat Chrysler, Labor, Cornell University’s School of Industrial and Labor Relations, Anderson Economic Group, Bloomberg Locations: New York, Detroit, Kokomo , Indiana, Indiana, Buffalo, Wheaton, Michigan

DETROIT (AP) — Stellantis is reporting progress in talks with the United Auto Workers union with just three days left before contracts expire with Detroit's three automakers. Stellantis released no details of its offer Monday. Political Cartoons View All 1148 ImagesUAW President Shawn Fain on Friday called counter offers from Stellantis, General Motors and Ford inadequate. “When the CEOs are ready to make a serious offer, we’ll be there, day or night,” he said. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%.

Persons: Tobin Williams, Stellantis, ” Williams, “, Shawn Fain, Fain, we’ll, ”, GM’s, we’ve, ” Fain Organizations: DETROIT, United Auto Workers, General Motors, Ford, Fiat Chrysler, France’s PSA Peugeot, UAW Locations: North America, Stellantis, Korean

DETROIT (AP) — The United Auto Workers union on Friday rejected wage and benefit offers from all three Detroit automakers, raising tensions just six days before a strike deadline for 146,000 employees. Union President Shawn Fain told workers in a Facebook Live appearance that he filed proposals from Ford, General Motors and Stellantis in a wastebasket. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%. To handle inflation, Ford offered cost of living pay that he called severely deficient, while GM and Stellantis offered lump sums. All companies kept tiers of wages for factory workers but lowered the number of years needed to reach full pay, he said.

Persons: Shawn Fain, ”, Fain, Stellantis, counterproposal, GM’s, Mark Stewart, Stewart, ” Fain, “ Organizations: DETROIT, United Auto Workers, Detroit, Union, General Motors, Fiat Chrysler, Ford, France's PSA Peugeot, U.S, GM Locations: Ford, North America, Stellantis

DETROIT (AP) — The head of the United Auto Workers warned Wednesday that the union plans to go on strike against any Detroit automaker that hasn't reached a new agreement by the time contracts expire next week. “That’s the plan,” President Shawn Fain responded when asked if the union would strike any of the companies that haven’t reached a tentative deal by the time their national contracts end. In an interview with The Associated Press, Fain left open the possibility of avoiding a strike. He acknowledged, more explicitly than he has before, that the union will have to give up some of its demands to reach agreements. Last week, the union filed charges of unfair labor practices against Stellantis and GM, and it said Ford's economic offer fell far short of its demands.

Persons: hasn't, “, Shawn Fain, haven’t, Ford, Fain, don’t, Stellantis, Marick, Masters, ” Organizations: DETROIT, United Auto Workers, Detroit, —, Motors, Stellantis, Associated Press, GM, Ford, Fiat Chrysler, UAW, Wayne State University Locations: Detroit

☆ Alfa Romeo will stay in motorsport, yet to decide on F1
▼ + stars: | 2023-09-01 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

"I feel that I must stay in motorsport and I will stay in motorsport. We don’t want to be full (in) for Alfa Romeo. I will not go to Rally Raid and I will not go on WRC (world rally) for obvious reasons for the story of Alfa Romeo. Alfa are effectively title sponsors of Sauber, who run the team, under a deal driven by the late FIAT Chrysler boss Sergio Marchionne. "It was reasonable, it was sized at the height of Alfa Romeo and Sauber, it was not the dreaming contract.

Persons: Max Verstappen, Jennifer Lorenzini, Romeo, Jean, Philippe Imparato, Imparato, Alfa Romeo, Haas, Ferrari, Sergio Marchionne, Alan Baldwin, Toby Davis Organizations: Prix, Autodromo Nazionale Monza, Prix REUTERS, One, Sauber, Frenchman, Reuters, Audi, Volkswagen, Alfa, WRC, Maserati, FIAT Chrysler, FIA, Formula One Management, Netflix, Vegas, Motorsport, Thomson Locations: Monza, Italy, United States

☆ What Wall Street needs to know about UAW talks, a potential strike, and what it could all cost
▼ + stars: | 2023-08-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

AEG estimates the total economic loss by calculating potential losses to UAW workers, the manufacturers and to the auto industry more broadly if the sides cannot reach tentative agreements before the current contracts expire. $825 millionThe UAW has more than $825 million in its strike fund, which it uses to pay eligible members who are on strike. The strike pay is $500 per week for each member – up from $275 in 2022. Assuming 150,000 or so eligible workers, that's all-in weekly strike pay of about $75 million. The UAW is scheduled to hold a procedural strike authorization vote next week, which would grant union leaders the ability to strike, if warranted.

Persons: Michael Wayland, Warren Buffett's Berkshire Hathaway, Shawn Fain, there's, Melissa Atkins, Kristin Dziczek, Rebecca Cook, Stellantis, Fain, Joe Biden, Leah Millis Organizations: United Auto Workers, General Motors, Hamtramck Assembly, CNBC DETROIT, U.S, GM, Ford Motor, New UAW, UAW, Detroit, Bloomberg News, Federal Reserve Bank of Chicago's, Sterling Heights Assembly, Center for Automotive Research, Fiat Chrysler, Ford, Anderson Economic Group, AEG, Deutsche Bank, Reuters Locations: Detroit, Hamtramck, Omaha, Federal Reserve Bank of Chicago's Detroit, Sterling Heights, Sterling Heights , Michigan, U.S, Michigan, Warren , Michigan

☆ US agency opens probe into 1.1 mln Ram 1500 pickup trucks
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Chrysler Group LLC assembly workers put together 2014 Ram 1500 pickup trucks on the assembly line at the Warren Truck Plant during a tour of the plants redesigned work stations in Warren, Michigan, September 25, 2014. REUTERS/Rebecca Cook/File PhotoWASHINGTON, Aug 8 (Reuters) - U.S. auto safety regulators said on Tuesday they were investigating whether 1.1 million older Ram 1500 pickup trucks should be recalled for power steering loss issues. The National Highway Traffic Safety Administration (NHTSA) has received 380 reports alleging intermittent or complete loss of power steering assistance in 2013-2016 model year Ram 1500 pickup trucks, including reports of three crashes. In March 2016, Fiat Chrysler Automotive, now known as Stellantis (STLAM.MI), recalled 440 vehicles to address a possible contamination of the electrical power steering unit. A complaint filed in March by a 2015 Ram 1500 driver said due to a power steering assist failure, "the contact drove into a ditch which caused minor damages to the front end of the vehicle."

Persons: Rebecca Cook, Stellantis, David Shepardson, Jon Boyle, Bernadette Baum Organizations: Chrysler Group, Warren Truck, REUTERS, Traffic Safety Administration, Fiat Chrysler Automotive, NHTSA, Thomson Locations: Warren , Michigan, Florida, California

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