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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Toyota took on America's trucksThe pickup truck segment is perhaps Detroit's last stronghold in the U.S. auto market, with the Ford, Chevrolet, GMC and RAM brands leading or outright dominating three out of four pickup segments. But the midsize Toyota Tacoma has had the longest-running tenure in that segment where it outsells all rivals by a large margin. But Tacoma is facing fresh challenges in the next few years, from foreign names such as Hyundai and Volkswagen to legacy U.S. automakers to EV makers like Rivian and Tesla.

Organizations: Toyota, Ford, Chevrolet, GMC, Toyota Tacoma, Tacoma, Hyundai, Volkswagen, U.S, EV Locations: U.S

☆ A Loss at Mercedes-Benz Slows U.A.W.’s Southern Campaign
▼ + stars: | 2024-05-18 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

About 56 percent of the Mercedes workers who voted rejected the U.A.W. In April, workers at a Volkswagen plant in Tennessee voted to join the union, the first large nonunion auto plant in the South to do so. I don’t think they’re going to stop just because they lost here.”Since its founding in 1935, the U.A.W. has almost exclusively represented workers employed by the three Michigan-based automakers: General Motors, Ford Motor, and Chrysler, now part of Stellantis. And it has long struggled to make headway at plants owned by foreign manufacturers, especially in Southern states where anti-union sentiment runs deep.

Persons: Weeks, ”, Arthur Wheaton Organizations: Mercedes, Benz, United Automobile Workers, Volkswagen, Daimler Truck, Cornell University School of Industrial and Labor Relations, General Motors, Ford Motor, Chrysler Locations: Alabama, Tennessee, North Carolina, Michigan, Stellantis, Southern

☆ Mercedes-Benz workers in Alabama vote against unionizing in blow to big UAW push
▼ + stars: | 2024-05-17 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

Out of the valid votes counted, 56% of workers voted “no,” while 44% voted “yes” for unionization, according to Mercedes-Benz. Under relatively new UAW president Shawn Fain, the UAW had shifted its strategy for a membership push in non-unionized factories, many of which are located in the American South. David Johnston, right, a worker at Mercedes, thanks UAW President Shawn Fain following a press conference in Tuscaloosa, Alabama on May 17, 2024, after workers at two Alabama Mercedes-Benz factories voted overwhelmingly against joining the United Auto Workers union. Alabama is not Michigan, and we are not the Sweet Home to the UAW,” Ivey said in the statement. People react as the result of a vote comes in favour of the hourly factory workers at Volkswagen's assembly plant to join the United Auto Workers (UAW) union, at a watch party in Chattanooga, Tennessee, U.S., April 19, 2024.

Persons: Shawn Fain, Fain, ”, ” “, ” Fain, David Johnston, Kim Chandler, “, Kay Ivey, Vance, ” Ivey, Mercedes, Tesla, Seth, Wheaton, Mercedes plant’s, It’s, Mercedes Benz, ” Wheaton, “ It’s, Chris Isidore, Nathaniel Meyersohn Organizations: New, New York CNN, United Auto Workers, Mercedes, Benz, The National Labor Relations Board, UAW, Alabama, Big Three, Volkswagen, International, Team, Workers, Alabama Gov, Benz US International, Member, ” CNN, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, Seth Herald, Reuters, Chattanooga, Volkswagen didn’t, Cornell University School of Industrial and Labor Relations ’, CNN, P Global Market Intelligence Locations: New York, Benz, Alabama, United States, Chattanooga , Tennessee, American, Tuscaloosa , Alabama, MBUSI, Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas, Michigan, U.S, Cornell University School of Industrial and Labor Relations ’ Buffalo

☆ Mercedes-Benz workers in Alabama vote against UAW union membership
▼ + stars: | 2024-05-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday. Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.

Persons: Andi Rice, Shawn Fain, Margaret Mock, Stellantis, Michael Wayland, Stephen Silvia, Southern, Mercedes, Silvia Organizations: United Auto Workers, UAW, ZF, Systems, Bloomberg, Getty, Mercedes, Benz, National Labor Relations Board, Detroit, Union, NLRB, Team, Detroit automakers Ford Motor, General Motors, Volkswagen, Southern Gamble, Workers, Foreign, American University Locations: Tuscaloosa , Alabama, Alabama, Tennessee, Sterling Heights , Michigan, U.S, Washington ,

☆ What’s at stake in the union election at a Mercedes-Benz plant in Alabama
▼ + stars: | 2024-05-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +9 min

New York CNN —A high-stakes union election is underway at a Mercedes-Benz plant near Tuscaloosa, Alabama, the only plant for the luxury automaker in North America. The fallout will be significant whether the workers at Mercedes-Benz vote to join the United Auto Workers union or not. And last month, it won a union election at a Volkswagen plant in Chattanooga, Tennessee, its first victory in three attempts to organize the factory. Though a union win could generate momentum, it doesn’t mean a victory will mean other plants can overcome management opposition at other foreign-owned plants. Non-union automakers have already begun their response to the big union victories thus far.

Persons: Shawn Fain, Fain, ”, —, Tesla, Mercedes, Mercedes ’, “, MBUSI, Wheaton, Mercedes plant’s, It’s, Mercedes Benz, ” Wheaton, “ It’s, Harry Katz, ” Katz, Katz, ’ ” Katz, they’ve, CNN’s Chris Isidore, Nathaniel Meyersohn Organizations: New, New York CNN, Benz, Mercedes, United Auto Workers, UAW, Big Three, Volkswagen, Kia, Toyota, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Volvo, Team, The National Labor Relations Board, Benz US International, Member, Volkswagen didn’t, Cornell University School of Industrial and Labor Relations ’, CNN, “ Labor, Big, – GM, Ford, Cornell University School of Industrial and Labor Relations, P Global Market Intelligence, General Motors Locations: New York, Tuscaloosa , Alabama, North America, Chattanooga , Tennessee, United States, Vance , Alabama, Tuscaloosa, ”, Cornell University School of Industrial and Labor Relations ’ Buffalo, Alabama, Alabama , Georgia , Mississippi, South Carolina , Tennessee, Texas

☆ China drives EV boom this year amid strong demand for hybrid vehicles
▼ + stars: | 2024-05-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Nurphoto | Nurphoto | Getty ImagesElectric vehicle sales have risen sharply this year, led by growth in China and a strong demand for hybrid vehicles in particular, according to a report from Counterpoint Research. Sales of hybrid vehicles, which have both electric motors and combustion engines, vastly outpaced those of full battery-powered alternatives, rising 46% year over year. China extends leadChinese companies have been a huge beneficiary of the rise in demand for electric vehicles, especially firms that sell both BEVs as well as hybrids. According to Counterpoint, EV sales in China jumped 28% in the first quarter of 2023, amid an ongoing price war that has pushed down costs for consumers. But, while overall EV sales in the U.S. rose 2%, those of battery electric vehicles declined by 3% in the quarter.

Persons: BEV, Abhik Mukherjee, Tesla Organizations: Nurphoto, Getty, Counterpoint Research, EV, Geely Holdings, Li Auto, Volkswagen Locations: Lianyungang Port, Jiangsu Province, China, United States, Europe, U.S

☆ 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

☆ Volkswagen Group CEO Pablo Di Si: EV segment is slowing down
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVolkswagen Group CEO Pablo Di Si: EV segment is slowing downPablo Di Si, Volkswagen Group CEO, joins CNBC’s ‘Power Lunch’ to discuss electrical vehicles sales in the US and Europe, consumer infrastructure, renewable energy, and more.

Persons: Pablo Di Si Organizations: Volkswagen, Volkswagen Group Locations: Europe

☆ Autos analysts pick who can survive China’s cut-throat EV market
▼ + stars: | 2024-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Investment analysts are coalescing around a few potential winners in China's car market after a 10-day auto show in Beijing put the ferocious competition on full display. "This year, we notice[d] a meaningful amount of foreign visitors who are Chinese brands' overseas dealers or importers," JPMorgan analysts said. Open to the public After two days of restricting access only to business and media, the Beijing auto show opened to the general public. Jefferies' analysts estimate the policy could boost China's passenger vehicle sales by 1 million units this year, evenly split between electric and gas-powered models. The analysts highlighted their Chinese car stock picks as Leapmotor, Geely and BYD, all rated buy and listed in Hong Kong.

Persons: Nick Lai, BYD, Tesla, hasn't, Elon Musk, Nezha, Asensing, Zhang Haizhou, Morgan, Lei Jun, Xiaomi, Jefferies, Bank of America Merrill Lynch, Leapmotor, — CNBC's Michael Bloom Organizations: Asia Pacific, JPMorgan, Porsche, Apple Vision, Brands, Mazda, Auto, Morgan Stanley Asia Pacific, EV, Bank of America, Trade, Ministry of Commerce, Volkswagen, VW, Toyota Locations: Beijing, China, Asia, Europe, Nio, Zhejiang, Hong Kong

☆ Trump’s bombardment of dishonesty: Fact-checking 32 of his false claims to Time
▼ + stars: | 2024-05-04 | by ( Daniel Dale | ) edition.cnn.com time to read: +43 min

We’re paying for close to 100% of NATO.”Facts First: Trump’s claim is false. They don’t pay their bills.”Facts First: Trump’s claim is false. (It rose to about $314 billion in 2020, Trump’s last full year in office.) Facts First: Trump’s claim is false. Facts First: Trump’s claim that “nobody died other than Ashli” is false.

Persons: Donald Trump, Trump, “, William Barr, Bill Barr, Barr, Bill, I’m, ”, it’s, Biden, Joe Biden, Tamar Hermann, Hermann, Bill Clinton, “ Trump, ” Trump, …, National Guard Trump, I’ve, George Floyd, Tim Walz, Walz, Paul —, –, Erwan, George Washington, “ don’t, they’re, Stoltenberg, Trump’s, Lagadec, Marc Lipsitch, Barack Obama, European Union won’t, Cortellessa, “ Moody’s, Moody’s, Mark Zandi, Zandi, ’ ” Zandi, Joe Biden’s, rioter Ashli Babbitt, Brian Sicknick, Sicknick, Trump’s ‘, patriotically, ‘, patriotically ’, ” Nancy Pelosi, Nancy Pelosi, “ Nancy Pelosi, Pelosi, Christopher Miller, Miller, Eric Cortellessa, Alvin Bragg’s, Bragg, Matthew Colangelo, Colangelo, Alvin Bragg, ” Cortellessa, Hillary Clinton, —, Roe, Wade, Kimberly Mutcherson, “ Donald Trump’s, Maya Manian, Mary Ziegler, Davis, Ziegler, Ruth Bader Ginsburg, Roe should’ve, ’, Crime Biden, don’t, “ Biden, he’s, James Biden, Jeff Asher, Asher, It’s, ” “, ” Asher Organizations: Washington CNN, Time, Trump, NATO, Capitol, Trump’s, Trade Center, didn’t, World Trade Center, Department, ISIS, CNN, Democratic, White House, White, South Korea Trump, Pentagon’s Defense Manpower Data, Biden Administration, Congressional Research Service, Israel, Israeli Democracy Institute, National Guard, Minnesota Democratic Gov, Minnesota National Guard, Guard, North Atlantic Treaty Organization, George Washington University’s Elliott School of International Affairs, Transatlantic, for Disease Control, World Bank, Washington Post, Harvard, Harvard’s, National, Trump -, of Health, Human Services, Strategic, Biden, U.S . International Trade Commission, European, Benz, Volkswagen, BMW, European Union, US, European Automobile Manufacturers ’ Association, Bloomberg Economics, US Capitol Police, Capitol Police, “, Republican, Democratic Rep, National Guardsmen, District of Columbia National Guard, Army, Capitol Police Board, Senate, Justice Department, Pulitzer Foundation, Pulitzer, New York Times, Electoral, Democrat, ” Rutgers Law, American University, university’s Health, University of California, ”, Customs, Border Protection, Crime, Manchurian, Republicans, FBI Locations: “, New York City, Saudi, Florida, al Qaeda, New York, Texas, Mexico, South Korea, Trump , South Korea, South, Korea, Israel, Washington, Trump , Minneapolis, Minneapolis, Trump, Minnesota, St, United States, Germany, Brussels, Belgium, Harvard University, China, EU, DC, Trump’s, ”, York, Manhattan, York’s, Russia, That’s

☆ These are the wildest EVs unveiled at China's biggest auto show
▼ + stars: | 2024-05-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you need more evidence that China's EV market is booming, just look at the country's biggest car show. VCG/VCG via Getty ImagesBy far the biggest name in China's EV market is BYD, the Warren Buffett-backed firm that is probably giving Elon Musk sleepless nights. Xiaomi brings its Tesla rivalJADE GAO/Getty ImagesOne of the biggest draws of the auto show was the SU7, an electric SUV built by smartphone maker Xiaomi. JADE GAO/Getty ImagesThe number of companies trying to make it in China's EV market — at least 123, according to one auto consultant — has seen some firms branch out in unexpected directions.

Persons: —, PEDRO PARDO, Warren Buffett, Elon, BYD, Tesla, Xiaomi, JADE GAO, It's, Mercedes Organizations: Service, Volkswagen, Mercedes, Business, EV, Getty, China's EV, VW Locations: Beijing, China's, China

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Tesla shares 'very expensive': EV maker likely to face a 'huge demand problem' over price cuts, fund manager says
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Other automakers are seeing strong growth in their electric vehicle sales even as the overall global auto market faces a downturn, adding to the pressure for Tesla. Similarly, BMW said earlier in April that sales of fully electric vehicles at its core brand jumped 41% in the first quarter. However, as the EV maker aggressively cut the cost of new vehicles globally, used car values have dropped in parallel. "I think there's going to be a huge demand problem for Tesla," he added. However, they reiterated their "overweight" rating for the stock with a price target of $205 – or 12% upside – for Tesla.

Persons: Tesla, Mark Hawtin, Elon, Hawtin, United States …, Ronald Jewsikow, Guggenheim, Piper Sandler, Alexander Potter, Ben Johnson Organizations: GAM Investments, Baidu, Volkswagen, BMW, Tesla Locations: China, Europe, United States

☆ Volkswagen profit drops 20% in first quarter on lower sales
▼ + stars: | 2024-04-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: 1 min

A man polishes a Volkswagen ID GTI Concept car on display at the International Motor Show (IAA) in Munich, southern Germany, on Sept. 5, 2023. German carmaker Volkswagen on Tuesday said its operating profit dropped by 20% in the first quarter as weaker demand for its premium brands drove a drop in sales. Operating profit came in at 4.6 billion euro ($4.9 billion) in the first three months of 2024, the company said, citing lower sales and higher fixed costs as key factors. This is a breaking news story and will be updated shortly.

Organizations: Volkswagen Locations: Munich, Germany

☆ Volkswagen’s electric car orders double in Europe
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs. New orders for electric cars more than doubled in Europe, Volkswagen said in an earnings statement Tuesday. He acknowledged, however, that the pace of EV sales growth in Europe and the United States had been slower than the German carmaker had originally anticipated. As for Volkswagen’s EV deliveries, they declined 16% in Europe in the first quarter compared with the same period in 2023. “With these actions and our highly profitable combustion engine car business, we are well-prepared to continue to play a leading role in China,” Antlitz said.

Persons: London CNN —, Arno Antlitz, carmaker, ”, Antlitz, ” Antlitz Organizations: London CNN, Volkswagen, Europe’s, CNN, EV, ” Locations: Europe, EVs ., United States, China

☆ How to back a lagging lithium miner and still generate income using options
▼ + stars: | 2024-04-29 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Today, I'm focusing my attention on minerals used in modern technology and presenting a way to use options to play a lithium miner. The strategy gives a lower-risk way to get somewhat long this beaten-up miner without going all-in, and generating some income in the process. Lithium is used, as the name suggests, in lithium-ion batteries which are crucial for portable electronics, energy storage, and electric vehicles. Combined with understandably elevated options premiums this could set as a spot to begin entering a partial position, with some options overlays. Or, if the stock falls, would add to the long position at the short-put strike.

Persons: Tesla, Elon Musk, Albemarle Organizations: Albemarle Corporation, Volkswagen, BMW, Mercedes, Hyundai, GM, Ford, Toyota, Kia, Renault, Nissan Locations: Charlotte , NC, U.S, Albemarle, ALB

☆ What is divestment? And does it work?
▼ + stars: | 2024-04-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

From Princeton University in New Jersey to the University of Southern California in Los Angeles, the same chant can be heard: “Disclose! The specifics of student protesters’ divestment demands vary in scope from school to school. Other students, like those at Cornell University and Yale, are asking their schools to stop investing in weapons manufacturers. Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza. Proponents for divestment counter that its value lies in raising awareness and stigmatizing partnerships with targeted regimes or industries.

Persons: “, ” Israel, Witold Henisz, Henisz, ”, Nicholas Dirks, ” Dirks, Dirks, “ They’ll, Anna Cooban, Michelle Bowman, Eli Lilly, Estee Lauder, Jerome Powell Organizations: New, New York CNN, Palestinian, Princeton University, University of Southern, Columbia University Apartheid, Columbia, Cornell University and Yale, Research, The Wharton School, University of Pennsylvania, CNN, University of California, Columbia’s Faculty of Arts and Sciences, Federal Reserve, European Central Bank, Dallas Fed, Samsung, AMD, Starbucks, Benz Group, Volkswagen, PayPal, adidas, Diamondback Energy, Restaurant Brands, Pinterest, Caesars Entertainment, PMI, Conference Board, Mastercard, Qualcomm, Pfizer, Marriott, eBay, US Commerce Department, Apple, Novo Nordisk, Shell, ConocoPhillips, Cigna, Universal Music Group, Hershey, US Labor Department Locations: New York, New Jersey, University of Southern California, Los Angeles, Columbia, Palestine, Israel, Gaza, South Africa, Berkeley, United States, Europe, DoorDash

☆ United Auto Workers-Daimler Truck agreement draws praise from Biden
▼ + stars: | 2024-04-28 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —President Joe Biden praised the United Auto Workers and Daimler Truck for reaching a tentative in the eleventh hour Friday night, preventing a potential strike affecting 7,300 workers. Daimler is a major manufacturer of trucks and buses, responsible for producing Thomas Built buses, one of the most popular brands of school buses in the United States. CNN has reached out to Daimler Truck for comment. The tentative agreement comes on the heels of increased momentum for the UAW. The subsequent contract negotiations won record pay increases for UAW members at the three companies.

Persons: Joe Biden, ” Biden, Shawn Fain, Thomas Organizations: New, New York CNN, United Auto Workers, Daimler, UAW, Facebook, CNN, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, —, Motors, Ford Locations: New York, United States, Chattanooga , Tennessee, Vance , Alabama, Tuscaloosa

☆ Rolls-Royce is growing its factory so it can build cars more slowly
▼ + stars: | 2024-04-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

So this factory expansion isn’t about making more cars, but making more expensive cars, which takes more time and requires more space for workshops and storage of exotic materials. The Rolls-Royce Phantom Syntopia's has glass flecks to create sparkling designs. Before that, Rolls-Royce cars were built alongside Bentleys — Rolls-Royce had acquired Bentley in 1931 — at a factory in Crewe, UK. The Phantom Syntopia likely would have cost more than $3 million according to sources, although Rolls-Royce would not confirm an exact price. The Phantom Syntopia has a special Weaving Water design in its Starlight Headliner.

Persons: Royce, “ We’re, ”, Martin Fritsches, “ That’s, Bentleys —, Bentley, Stephan Winkelmann, Javier Gonzalez Lastra, Fritsches, Cullinan Organizations: CNN, BMW, Royce, Bentley, Volkswagen, Lamborghini, Ferrari, ” Lamborghini, Tema Locations: Chichester , England, Crewe, cabinetry

☆ Ford tapped the brakes on EVs and bet on hybrids. It's paying off.
▼ + stars: | 2024-04-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewFord's bet on hybrids looks like it's paying off. By comparison, the company's pure EV business has struggled. Ford's crosstown rival General Motors, meanwhile, has reversed its "all-in" electric vehicle strategy and pledged to bring back hybrids into its North American vehicle lineup. Not to be outdone, Ford is also doubling down on hybrids, even as it cuts back on some EV investments. "The EV adoption rate globally is under pressure, and a lot of other auto manufacturers are pulling back on EVs and pursuing plug-in hybrids instead," said Musk in the company's earnings call.

Persons: —, Jim Farley, Farley, Ford, Elon Musk, Motors, Jim Baumbick Organizations: Service, Detroit, US, Toyota, Honda, Business, Ford Model, Motors, Volkswagen, EV, The New York Times, American, Elon Locations: North America

☆ Daimler Truck Workers in North Carolina Are Poised to Strike
▼ + stars: | 2024-04-26 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: 1 min

Workers who make trucks and buses for Daimler Truck in North Carolina appeared poised to strike on Friday as contract talks remained deadlocked. A contract covering 7,000 Daimler employees represented by the United Automobile Workers will expire at the end of Friday. The German company has five factories in North Carolina, where it builds Freightliner and Western Star trucks, Thomas Built buses, and various components. scored a significant victory this month when workers at Volkswagen’s factory in Chattanooga, Tenn., voted to be represented by the union. Workers at a Mercedes-Benz factory in Alabama will vote on whether to unionize in mid-May.

Persons: Thomas Organizations: Daimler Truck, Daimler, United Automobile Workers, Freightliner, Western Star, Workers, Benz Locations: North Carolina, Southern, Volkswagen’s, Chattanooga , Tenn, Alabama

BEIJING — Chinese electric car start-ups Nio and Xpeng are turning to a lower-priced segment of the market with plans to release newly branded cars this year. Nio's first such mass market car will be an SUV cheaper than Tesla 's Model Y, CEO William Li told CNBC's Eunice Yoon on Thursday. The Tesla SUV starts at 249,900 yuan ($35,197) in China. Like many early entrants to China's electric car market, U.S.-listed Nio targeted the premium market when it launched about a decade ago. The new cars come amid an intense price war in China's new energy car market, which includes battery-only and hybrid-powered vehicles.

Persons: William Li, Nio's, Eunice Yoon, Li Organizations: New York Stock Exchange, Tesla, Volkswagen Locations: BEIJING, China, U.S

☆ Opinion | Can Biden Revive the Fortunes of American Workers?
▼ + stars: | 2024-04-25 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Last week, employees at a Volkswagen plant in Chattanooga, Tenn., voted by almost three to one to join the United Automobile Workers. By the numbers, this wasn’t a big deal: It involved only a few thousand workers in an economy that employs almost 160 million people. You can quantify this arc using statistical measures like the Gini coefficient or the ratio of top to bottom incomes. The thing is, that relatively equal society didn’t evolve gradually. Wartime wage and price controls were an equalizing force, but the new equality persisted for decades after those controls were removed.

Persons: Claudia Goldin —, Robert Margo Organizations: Volkswagen, United Automobile Workers Locations: Chattanooga , Tenn, Chattanooga, America

☆ Opinion | The Volkswagen Union Win Shows That Labor Is Becoming a Bigger Tent
▼ + stars: | 2024-04-24 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

There’s a vote on whether to join the United Automobile Workers union, giving organized labor its first factorywide foothold at a major foreign automaker in the South. We know now that the pro-union side won with nearly three-quarters of the vote in an election that ended on Friday. I think what we saw in Chattanooga is workers voting on the basis of economics rather than party alignment. If that continues to happen elsewhere, the South could some day become as unionized as the rest of the country. It won’t happen quickly, though, because government officials and corporate groups are likely to continue to fight back.

Persons: —, Donald Trump, Republicans — Organizations: United Automobile Workers, Republicans Locations: Chattanooga , Tenn, Tennessee, Chattanooga

☆ The electric car revolution is on track, says IEA
▼ + stars: | 2024-04-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“The continued momentum behind electric cars is clear in our data, although it is stronger in some markets than others,” IEA executive director Fatih Birol said in a statement. Last year, global EV sales grew 35% to almost 14 million. “Intensifying market competition and improving battery technologies are expected to reduce (EV) prices in the coming years,” the IEA said. “Growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices,” it added. By 2030, almost one in three cars on the roads in China is set to be electric, according to the IEA.

Persons: —, Tesla, “, Fatih Birol, China’s BYD, Brandon Bell, EVs, ” Birol Organizations: London CNN — Global, International Energy Agency, IEA, Li, Getty, European Union, EV, Volkswagen, Audi, BMW Locations: China, Chinese, Germany, United States, Austin , Texas, EVs, Europe

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