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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

☆ Morning Bid: Fed, financing and jobs greet November
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +6 min

Despite the U.S. Treasury forecasting a lower fourth-quarter borrowing need than previously flagged, the tension in the bond market remains ahead of its detailed future refinancing plans due later on Wednesday. With the Federal Reserve widely expected to hold policy rates steady again on Wednesday, the Treasury plans may end up getting more bond market attention. But U.S. consumer confidence has softened, oil prices are falling again and the overseas demand picture is weakening. Another heavy day of U.S. corporate earnings is topped by big insurers and the likes of PayPal and Kraft Heinz. On Tuesday, shares in heavy-machinery maker Caterpillar (CAT.N) sank almost 7% as signs of slowing demand overshadowed a quarterly earnings beat.

Persons: Mike Dolan, Masato Kanda, it's, Japan's, China Evergrande, Joe Biden, Xi Jinping, Kraft Heinz, Estee Lauder, Kraft, Ingersoll Rand, Nick Macfie Organizations: Wednesday's, Bank of Japan, Japan's Nikkei, Japan, U.S, U.S . Treasury, Federal Reserve, Treasury, HK, White House, Asia Pacific Economic Cooperation, Wall, PayPal, Kraft, Caterpillar, Edison, AIG, Prudential Financial, MetLife, Qualcomm, Mckesson, Kraft Heinz, Allstate, Congnizant, Boston Properties, Water, Garmin, CVS, Brands, Humana, Reuters Graphics Reuters, US National Retail Federation, Thomson, Reuters Locations: U.S, United States, China, Hong Kong, San Francisco, Tokyo, Marathon, Boston

☆ Toyota recalls more than 1.8 million RAV4 vehicles
▼ + stars: | 2023-11-01 | by ( Ramishah Maruf | ) edition.cnn.com time to read: 1 min

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☆ Aurora opens first commercial route for driverless trucks
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Tina Bellon/File Photo Acquire Licensing RightsNov 1 (Reuters) - Aurora Innovation (AUR.O) on Wednesday opened its first lane for driverless trucks connecting Dallas and Houston, supported by its commercial trucking terminal in Houston, ahead of a launch in 2024. "Bringing our commercial-ready terminals and services online a year ahead of our planned commercial driverless launch between Dallas and Houston enables us to focus next year on integrating our driver-ready trucks into our customers' operations," said Chief Product Officer Sterling Anderson. Aurora said it would operate its terminals day and night, which will support more than 75 commercial loads for pilot customers. Aurora's portfolio of products includes Aurora Driver, its self-driving technology that can be employed across vehicle types, and driverless trucking subscription service Aurora Horizon. Aurora has partnerships with Uber Technologies (UBER.N), Toyota (7203.T), Volvo (VOLVb.ST), and PACCAR (PCAR.O), among others.

Persons: Tina Bellon, Sterling Anderson, Aurora, Zaheer Kachwala, Varun Organizations: REUTERS, Aurora, Wednesday, Dallas, Command, General Motors, California Department of Motor Vehicles, Uber Technologies, Toyota, Volvo, Thomson Locations: Palmer, Dallas , Texas, U.S, Dallas, Houston, Bengaluru

☆ I moved to Denver and regretted it because it was freezing, expensive, and hard to make friends. I'm much happier now living in Spain.
▼ + stars: | 2023-11-01 | by ( Robin Madell | ) www.businessinsider.com time to read: +8 min

Michiels then moved to Spain and finds it easier to make friends. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Eric Michiels, a 51-year-old a former resident of Denver, Colorado, about his experience living in Denver. I moved to Denver, Colorado in May 2021 from Atlanta, Georgia because of a job decision. I had a Toyota Prius, and because Denver is extremely hilly, the car couldn't make it; it was too slippery. Some things are more expensive here — for example cars and technology — but the day to day is a lot cheaper.

Persons: Eric Michiels, Michiels, —, It's, I'd, didn't, there's, Jenna Gyimesi Organizations: Service, Toyota Prius, Denver, Visa, Healthcare Locations: Atlanta, Denver, Spain, Denver , Colorado, Atlanta , Georgia, Colorado, Colorado Denver, Lakewood, Malaga, jgyimesi@insider.com

☆ Toyota Aims to Meet Hybrid Demand With New U.S. Plant Investment
▼ + stars: | 2023-10-31 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Toyota executives say that demand for hybrids is outstripping the company’s production capacity. Photo: Stephanie Keith/Bloomberg NewsToyota Motor said it is more than doubling its investment in a battery plant under construction in North Carolina, a move aimed at increasing its ability to meet demand for hybrid models. With the latest $8 billion investment, Toyota is planning to spend nearly $14 billion to turn the facility in Liberty, N.C., into a massive hub for battery production. The 1,000-acre site is slated to contain 14 assembly lines producing batteries for hybrids, plug-in hybrids and fully electric vehicles. Battery production is scheduled to begin there in 2025.

Persons: Stephanie Keith Organizations: Toyota, Bloomberg News Toyota Locations: North Carolina, Liberty, N.C

☆ Toyota pledges $8 billion more for US battery plant to rev up EV push
▼ + stars: | 2023-10-31 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 31 (Reuters) - Toyota Motor (7203.T) said on Tuesday it would boost investment by $8 billion and add about 3,000 jobs at its electric-vehicle battery manufacturing plant in North Carolina, accelerating the Japanese automaker's push to electrify its lineup. Toyota's North Carolina facility is set to begin operations in 2025 and will be the company's first automotive battery plant globally. It will have six battery production lines, four supporting hybrid vehicles such as the Prius, and two additional lines to support battery EVs. NORTH CAROLINA HUBNorth Carolina is emerging as a leading hub for electric vehicle and battery manufacturing, with new investments planned by companies ranging from Redwood Materials to Vietnam's Vinfast .

Persons: David, Dee, Delgado, Tesla, North Carolina Governor Roy Cooper, Nathan Gomes, Savio D'Souza, Devika Organizations: New York, REUTERS, Toyota, Ford, General Motors, United Auto Workers union, Tesla, Samsung SDI Co, Panasonic, Chrysler, Stellantis, Materials, North, North Carolina Governor, Thomson Locations: Manhattan , New York City, U.S, North Carolina, Detroit, NORTH CAROLINA, United States, Bengaluru

The plant will serve as Toyota's epicenter of lithium-ion battery production in North America and will be a key supplier for the Kentucky-based plant tasked with building its first U.S.-made electric vehicles, the company said. Sean Suggs, president of Toyota North Carolina, said the announcement “reinforces Toyota’s commitment to electrification and carbon reduction,” while fulfilling its promise to bring economic growth to North Carolina. Toyota has committed to using 100% renewable energy to produce batteries at the North Carolina plant, which has been under construction since 2021. Toyota says it will have 15 battery electric vehicles for sale globally by 2025. Toyota could receive hundreds of million in cash incentives, tax breaks and infrastructure upgrades from the state of North Carolina and local governments for fulfilling its job creation and investment goals, according to state officials and documents.

Persons: —, ”, Roy Cooper, Koji Sato, Sean Suggs, Joe Biden’s, Phil Berger Organizations: — Toyota, Toyota, Automotive, U.S . Department of Energy, Republican, Associated Press, America Statehouse News Initiative, America Locations: RALEIGH, N.C, North Carolina, Greensboro, North America, Kentucky, U.S, Tokyo, Toyota North Carolina

CHARLOTTE, N.C. (AP) — Rick Hendrick first met William Byron as a local Charlotte teenager, fan of Hendrick Motorsports and budding NASCAR driver. It's paid off as Byron heads to Phoenix Raceway this week with a shot at winning his first Cup title. William has always been pretty calculating, and he doesn’t drive over his head and he’s won races this year by making some aggressive moves. Should Byron win the title on Sunday, he'd be the first North Carolina-born and raised Cup champion since Dale Jarrett in 1999. 24 Chevrolet since Jeff Gordon's fourth title in 2001.

Persons: CHARLOTTE, — Rick Hendrick, William Byron, Hendrick, Hendrick snagged Byron, It's, Byron, Denny Hamlin, David Pearson, Chase Elliott, Kyle Larson, Alex Bowman, it’s, William, he’s, “, he'd, Dale Jarrett, Ryan Blaney, Jonathan Hassler, Blaney, Joey Logano, He's, Joe Gibbs, Christopher Bell, Adam Stevens, Bell, Cliff Daniels, Larson, William Byron BORN, Rudy Fugle, Jeff Gordon's Organizations: Hendrick Motorsports, NASCAR, Toyota, Phoenix, Martinsville, Hall of Famer, Hendrick, Ford, Team Penske, , North Carolina, PHOENIX, Homestead, Miami Speedway, Won, Darlington, Las Vegas, North Carolina Locations: N.C, North Carolina, , North, Norman, Oklahoma, Elk Grove , California, Vegas, Charlotte, North

☆ Winners and losers of the UAW talks with GM, Ford and Stellantis
▼ + stars: | 2023-10-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

UAW President Shawn Fain warned of a more combative union heading into the talks, but not many, if anyone, expected the union to strategically outmaneuver the companies like it did, leading to record deals for 146,000 UAW members with GM, Ford Motor and Stellantis . UAW members must still vote to ratify the tentative agreements. 1, of course, are the UAW members," said Art Wheaton, a labor professor at The Worker Institute at Cornell University. Some winners, some losers: UAW membersBroadly speaking, the UAW members covered by the new deals are winners, however not everyone faced the financial toll of the union's strikes against the Detroit automakers. They may also be targets of increased organizing efforts by members seeking better wages like those for UAW members.

Persons: Joe Biden, Shawn Fain, Evelyn Hockstein, General Motors, Fain, Tesla, Wheaton, Shawn Fain Fain, they've, Marick, It's, Ford, John Lawler, Masters, I'm, Biden Organizations: United Auto Workers, Reuters DETROIT, General, Detroit, UAW, GM, Ford Motor, Worker Institute, Cornell University, Wayne State University, Ford, Deutsche Bank, Finance, Detroit automakers, Toyota, Hyundai, EVs Locations: Bellville , Michigan, U.S, Detroit, Michigan

☆ Taiwanese chip firm to build a $5.3 billion factory in Japan as country seeks semiconductor boost
▼ + stars: | 2023-10-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The first phase of the project in the Miyagi Prefecture north of the capital Tokyo, will require a 420 billion yen investment. Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) and Japanese financial conglomerate SBI Holdings have chosen a site in northern Japan for an 800 billion yen ($5.3 billion) chip manufacturing plant, the two firms said Tuesday. The PSMC and SBI factory will manufacture semiconductors in the 28 nanometer, 40 nanometer and 55 nanometer categories. U.S. memory chipmaker Micron announced in May that it would invest up to 500 billion yen in Japan over the next few years, including into manufacturing. In June, a fund backed by the Japanese government proposed a 903.9 billion yen acquisition of semiconductor materials giant JSR .

Organizations: SBI Holdings, Powerchip Semiconductor Manufacturing Corporation, SBI, Toyota, Honda, Micron Locations: Japan, Miyagi Prefecture, Tokyo, U.S, China

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto Locations: Detroit

Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”

Persons: Stellantis, ”, Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit

Rodriguez and her four siblings grew up working on the farm and selling its products at farmers markets back in the city. Farm to operating tableThough she's close with her family, it was difficult breaking the news to her parents that she didn't want to continue working on the farm beyond high school, Rodriguez says. Her parents helped some, and she applied for scholarships, allowing Rodriguez to earn her bachelor's without taking on student debt. In fact, working with patients is one of the highlights of her work. How she spends her moneyEven after paying off her debt, Rodriguez has continued to save around 50% of her income.

Persons: Rodriguez, Chabely Rodriguez, Liam Mays, hasn't, CAAs, Andrea Desky, they're, undergrad, hustled, Donald Trump, I've, Gene Kim, HBO Max, she's Organizations: CNBC, CAA, Brooklyn College, District of Columbia, Nova Southeastern University, Housing, HBO, Toyota Corolla, YouTube Locations: Tampa , Florida, New York, Mexico, Brooklyn, Florida, Fort Lauderdale , Florida, anesthesiology, Costa Rica

☆ Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
▼ + stars: | 2023-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Steel Edgar Thompson Works is seen in Braddock, Pennsylvania, U.S. November 4, 2022. REUTERS/Quinn Glabicki/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs' (CLF.N) proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric vehicle sales. U.S. Steel in August rejected Cleveland-Cliff's proposed $7.25 billion price. Cleveland-Cliffs CEO Lourenco Goncalves last week during an earnings call declined to discuss the issue, citing restrictions. In August, U.S. Steel said it had entered into confidentiality agreements with "numerous third parties" and started to review multiple unsolicited proposals ranging from partial acquisition to an entire buyout.

Persons: Steel Edgar Thompson, Quinn Glabicki, John Bozzella, Lina Khan, Jonathan Kanter, Cliff's, Lourenco Goncalves, David Shepardson, Nick Zieminski Organizations: REUTERS, Rights, U.S . Steel, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Hyundai, Federal Trade Commission, Justice Department Antitrust, . Steel, Cliffs, Steel, Thomson Locations: Braddock , Pennsylvania, U.S, Cleveland

☆ Detroit Is Paying Up to End the UAW Strike. Now Carmakers Will Live With the Costs.
▼ + stars: | 2023-10-30 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

The United Auto Workers union said it reached a tentative deal with Stellantis on Saturday, six weeks after workers went on strike. Earlier this week, Ford also reached a tentative agreement with the UAW. Photos: Emily Elconin/Bloomberg NewsThe end of the United Auto Workers strikes against Ford Motor and Chrysler-parent Stellantis offered some relief in Detroit after a bruising six-week labor showdown. But the car companies aren’t in a celebratory mood. The details of the UAW’s tentative labor pacts with Ford and Stellantis, reached in recent days, show that the automakers’ labor-cost disadvantage to rivals such as Toyota and Tesla is about to get worse, just as many aspects of their growth plans get cloudier.

Persons: Stellantis, Ford, Emily Elconin Organizations: United Auto Workers, UAW, Bloomberg, Ford Motor, Chrysler, Ford, Toyota, Tesla Locations: Detroit

☆ Toyota September production jumps on stronger Japan output
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Attendees listen as President, CEO and Member of the Board of Directors at Toyota Motor Corporation Koji Sato holds a press briefing during a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 30 (Reuters) - Toyota Motor (7203.T) said on Monday that worldwide production rose 1.5% in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United States and in Europe. The world's biggest automaker by sales reported an 11.6% jump in global sales in September to 921,308 vehicles. Domestic sales surged 20.5% in September, while those in the United States rose 14% and sales in Europe were up 18.1%. In China, the world's biggest auto market, Toyota reported a nearly 7% decline in production even as it reported slightly higher year-on-year sales.

Persons: Toyota Motor Corporation Koji Sato, Issei Kato, Daniel Leussink, Jamie Freed Organizations: Toyota Motor Corporation, Japan, REUTERS, Rights, Toyota, Lexus, Thomson Locations: Tokyo, Japan, United States, Europe, Thailand, Indonesia, Vietnam, China

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The GM workers will return to work after an official announcement of the deal, two sources said. Ford shares fell 2% while Stellantis shares were down 1.5% in Milan. Excluding Monday's share moves, GM and Ford shares have lost roughly a fifth of their value since the strike began while Stellantis shares have fallen 1%. "The Street is glad to have this UAW nightmare in the rear view mirror with a less onerous deal than originally feared for the Detroit Big 3," Wedbush analyst Daniel Ives said.

Persons: Rebecca Cook, Stellantis, Patrick Anderson, Shawn Fain, Fain, Joe Biden, Biden, Tesla, Ford, Erik Gordon, Daniel Ives, David Shepardson, Joseph White, Shivansh Tiwary, Deepa Babington, David Gaffen, Peter Henderson, Alistair Bell Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, Reuters, Detroit Three automakers, Ford Motor, Chrysler, Anderson Economic Group, GM, Ford, Democratic, Detroit Three, Detroit automakers, EV, Toyota, University of Michigan, Kentucky, Detroit Big, Thomson Locations: Detroit , Michigan, U.S, Detroit, Milan, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hill, Tenn, Washington

☆ Workers at the Detroit 3 are set to make up to $35 more an hour than at Tesla thanks to new union contracts
▼ + stars: | 2023-10-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Detroit's hourly labor costs could soar to $90 an hour, according to one estimate. At Tesla and foreign car companies, that same hourly labor cost sits between $45 and $55 per hour, industry experts estimate. AdvertisementAdvertisementHeading into contract talks this summer, the labor cost gap between the Detroit Three and Tesla was already sizable. While Ford, GM, and Stellantis were spending about $66 an hour on their factory workers, Tesla was spending just $45 an hour. Throughout the strike, Detroit executives warned of the advantage higher labor costs would hand to their competitors.

Persons: —, That's, Tesla, Wedbush, Bill Ford, Shawn Fain, Fain Organizations: UAW, Service, Detroit, United Auto Workers, Ford, GM, Tesla, Toyota, Honda, Volkswagen Locations: Wells

There was Chase Elliott, one of his best friends, who won the 2020 Cup title and is NASCAR’s five-time reigning most popular driver. And what of William Byron, who only needed half the time to pass Blaney in career wins? Then he scored his second win of the season in the round of 12 of the playoffs at Talladega Superspeedway to earn an automatic berth into the round of eight. I think that’s the biggest thing that’s helped me out this year,” Blaney said. Rushbrook loves Blaney's chances come Sunday to give Ford a second consecutive Cup title.

Persons: CHARLOTTE, — Ryan Blaney, he'd, Chase Elliott, Bubba Wallace, Blaney, Michael Jordan, William Byron, “ There’s, ” Blaney, haven’t, Kyle, Larson, Chase, “, ’, Byron, Christopher Bell, Joey Logano, — Blaney, that’s, He's, Hendrick, Joe Gibbs, Denny Hamlin, Ford, Mark Rushbrook, —, Rushbrook, Logano, ” Rushbrook, Ryan Blaney, he's, ” Organizations: Sunday, Martinsville Speedway, Phoenix Raceway, Charlotte Motor, Talladega Superspeedway, Team Penske, Talladega, NASCAR, Homestead, Miami Speedway, Martinsville, Toyota, Ford Performance Motorsports, Phoenix, Penske Locations: N.C, Martinsville, Virginia

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

☆ U.A.W. Says It Aims to Organize Nonunion Auto Plants
▼ + stars: | 2023-10-29 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

After winning major gains in wages and benefits from two of the three Detroit automakers, the United Automobile Workers union is looking beyond the Motor City to car companies operating nonunion factories across the South. president, Shawn Fain, said the union planned a push to organize plants at some of the nonunion automakers, such as Toyota, Honda and Tesla. “One of our biggest goals coming out of this historic contract victory is to organize like we’ve never organized before,” Mr. Fain said. It will be the Big Five or Big Six.”The statement was one of Mr. Fain’s clearest to date that the U.A.W. intended to renew efforts to unionize the plants of foreign-owned automakers and Tesla, which operates nonunion vehicle plants in California and Texas.

Persons: Shawn Fain, ” Mr, Fain Organizations: Detroit automakers, United Automobile Workers, Facebook, Toyota, Honda, Tesla Locations: Motor City, California, Texas

A public deal announcement with Stellantis is expected later Saturday afternoon or early evening, the sources said. Stellantis shuttered its assembly plant in Belvidere, Illinois, early this year, leaving 1,300 workers without jobs. The tentative contract deal will have provisions on the use of temporary workers, the sources said, adding Stellantis has agreed to significant investment. Fain and other senior union leaders are briefing local UAW chiefs by video conference, the sources said. The deal is also expected to include investments in other U.S. plants, including the Trenton engine plant, the sources said.

Persons: Stellantis, Shawn Fain, Biden, Fain, Tesla, Ford, Joe Biden, David Shepardson, Joseph White, Sayantani Ghosh, David Gregorio, Peter Henderson Organizations: United Auto Workers, Chrysler, Detroit Three, UAW, Ford, GM, Detroit, Detroit automakers, EV, Toyota, Kentucky, Korean, buildouts, U.S, Republican, Thomson Locations: Belvidere , Illinois, Illinois, U.S, Trenton, Detroit, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hollywood, Michigan

☆ Americans are so anxious about going electric that they're willing to pay up for hybrids
▼ + stars: | 2023-10-28 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhile car companies try desperately to gin up demand for their latest electric models, consumers are begging for a compromise: hybrids. In the auto industry, the same logic applies to hybrids, which can provide a more convenient bridge to full EV adoption. Hybrid revolutionThis need for hybrids isn't new. Ford said this week it would postpone $12 billion in new EV investment as the company assesses demand going forward.

Persons: isn't, —, –, they're, Chris Harto, Harto, Akio Toyoda, Cameron Johnson, Ford, Martin French Organizations: Industry, Service, Consumer, EVs, Auto, Consumer Reports, Toyota, Dealers, Magic City Auto Group, Honda Locations: Edmunds, Virginia

☆ The World’s Biggest Carmaker Made a Huge Bet on Tech. Things Went Wrong Fast.
▼ + stars: | 2023-10-27 | by ( River Davis | Photographs Ko Sasaki For The Wall Street Journal | ) www.wsj.com time to read: 1 min

TOKYO— Toyota sells more cars each year than any other company, and it had similarly big dreams when it created its own in-house technology startup in 2021. It picked an American tech whiz to run it and envisioned building software for its cars that would become a standard for the whole industry. So great were the startup’s ambitions that one of its projects was building an entire new city in the foothills of Mount Fuji where it could test self-driving cars, robots and hydrogen for power production. Then-Chief Executive Akio Toyoda said the new unit would help Toyota navigate a “once-in-a-century period of profound change” in which cars become electric, internet-connected, autonomous and heavily reliant on software.

Persons: Akio Toyoda Organizations: Toyota, Mount Fuji Locations: TOKYO, American, Mount

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