Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers have gone on until the strike deadline and beyond in past years. "To win, we're likely going to have to take action," UAW Fain said on Wednesday. The Detroit Three want to close the cost gap they have with foreign automakers with non-unionized U.S. factories. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike.

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Persons: Andrew Kelly, Shawn Fain, Fain, Jim Farley, we're, UAW Fain, Biden, Tesla, GM's, Nathan Gomes, Sriraj Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, Detroit automakers, FROM, Reuters, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Bengaluru