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☆ Trump seeks UAW endorsement while criticizing EVs, Biden in Michigan
▼ + stars: | 2023-09-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan. Trump, the front-runner among Republicans in the 2024 presidential race, many times encouraged the UAW to endorse him during the roughly hour-long speech. Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan. The sides failed to reach tentative agreements by an 11:59 p.m. Sept. 14 expiration of contracts for 146,000 UAW members with the Detroit automakers. Currently, about 18,300 UAW members with the Detroit automakers are on strike, with the union warning of additional strikes without substantial progress in the talks by Friday.

Persons: Donald Trump, Michael Wayland, CNBC CLINTON, Trump, Joe Biden, Biden's Organizations: U.S, Drake Enterprises, CNBC, CNBC CLINTON TWP, United Auto Workers, UAW, Trump, Republicans, General Motors, Ford Motor, Detroit, Detroit automakers, GOP Locations: Clinton Township , Michigan, Mich, –, Detroit, China, CNBC

☆ Ford avoids Canadian auto strike with Unifor union deal
▼ + stars: | 2023-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Lana Payne speaks to delegates after being elected as president of UNIFOR, Canada's largest private sector union, at the Metro Toronto Convention Centre on Aug. 10, 2022. The Canadian tentative agreement was reached on day five of the United Auto Workers union initiating targeted strikes against Ford and its crosstown rivals General Motors and Chrysler-parent Stellantis . DETROIT – Ford Motor avoided having to face labor strikes on both sides of the U.S.-Canada border Tuesday night, as the automaker and Canadian union Unifor announced a tentative deal covering 5,600 autoworkers in the country's Ontario providence. Unifor, which represents 18,000 Canadian workers at the Detroit automakers, took a more traditional approach to its negotiations than its U.S. counterpart did. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Lana Payne, UNIFOR, Unifor, Ford, Shawn Fain Organizations: Metro Toronto Convention, Plant, Ford Edge, Lincoln Nautilus, Ford, United Auto Workers, General Motors, Chrysler, Detroit, Ford Motor, U.S ., Detroit automakers, U.S, GM, UAW Locations: Oakville, Unifor, DETROIT, U.S, Canada, Ontario, autoworkers, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ Ford barrels toward new Canadian strike that could affect F-Series pickup production
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

A Unifor strike would disrupt Ford's Oakville Assembly Plant that produces the Ford Edge and Lincoln Nautilus crossovers. F-Series, Mustang could be disruptedIf a prolonged Canadian strike occurs, the work stoppage could eventually impact U.S. production of the vehicles. Gasoline V8 models make up about 50% of Mustang and 20% of F-150 models sold in the U.S. Large F-Series trucks exclusively have V8 engines. But a majority of those vehicles sold have diesel V8 engines rather than gasoline, according to the company. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Ford, Carlos Osorio, Wheaton, Lana Payne, Jerry Dias, Cole Burston Organizations: Ford DETROIT, Ford, United Auto Workers, General Motors, Chrysler, Plant, Ford Edge, Lincoln Nautilus, Reuters, Detroit, UAW, Worker Institute, Cornell University, Unifor, Detroit automakers, U.S, Canadian Locations: Oakville, Oakville , Ontario, Canada, U.S, Mexico, Toronto , Ontario

☆ This individual investor favorite has endured even as other meme stocks fell from favor
▼ + stars: | 2023-09-17 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Retail traders have made the leap from so-called meme stocks , including GameStop and AMC , over the past few years. All the while, Tesla inflows from retail traders have mostly climbed in the past half decade, according to data analyzed by Vanda Research. "It's a growth stock, but it's really a hopes-and-dreams stock," said Irwin, who covers Tesla and other clean technology stocks. Tesla's climb also comes amid a broader buy in from retail investors in their favorites. "This is probably a golden era for Tesla," Irwin said.

Persons: Tesla, —, Roth, Craig Irwin, Irwin, it's, Elon Musk, Ford, hasn't, Dan Levy, Toyota's Organizations: GameStop, AMC, Vanda Research, Trust, General Motors, Barclays, Toyota Locations: Wall, U.S, China, Europe

☆ Trump criticizes UAW leadership amid strike, warns autoworkers' jobs are moving to China
▼ + stars: | 2023-09-15 | by ( Amanda Macias | ) www.cnbc.com time to read: +4 min

"The autoworkers will not have any jobs, Kristen, because all of these cars are going to be made in China. The electric cars, automatically, are going to be made in China," Trump told NBC News' Kristen Welker in an exclusive, wide-ranging interview set to air Sunday on "Meet the Press." "The autoworkers are being sold down the river by their leadership, and their leadership should endorse Trump," added the frontrunner for the Republican presidential nomination. The strike marked the first time the United Auto Workers union targeted the three automaker titans simultaneously. Read more: Why the United Auto Workers want big raises Trump specifically criticized UAW President Shawn Fain.

Persons: Donald Trump, Kristen Welker, Kristen, Trump, autoworkers, Read, Shawn Fain, he's, Fain, Joe Biden, Matthew Hatcher, Biden, Xi Jinping Organizations: GM, NBC News, Press, WASHINGTON —, United Auto Workers, General Motors, Ford, NBC, Republican, SAIC General Motors Co, automaker titans, Workers, Trump, UAW, Ford Assembly Plant, AFP, Getty, White, U.S, China Locations: China, Wuhan, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Washington, Beijing

☆ Electric helicopters could replace rideshares. How to invest in this 'evolutionary' technology
▼ + stars: | 2023-07-23 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

"It's more of an evolutionary technology than a revolutionary technology." But Cowen managing director Cai von Rumohr said investors should be prepared for timelines to be pushed back, as this is still considered "early-stage tech." "Given the push for climate and to basically reduce carbon emissions, I think, at some point, there's going to be a market," von Rumohr said. The outlook is still clouded by many variables, von Rumohr said. "It's definitely an important investment opportunity for investors," Moeller said.

Persons: Harry Potter, Austin Moeller, Moeller, Archer, Joby, Cowen, Cai von Rumohr, von Rumohr, Lilium, Von Rumohr, Marco Iachini, Vanda Research's, Bill Peterson, It's Organizations: Archer, Federal Aviation Administration, FAA, Toyota, Stellantis, Air Force, Aerospace, JPMorgan

☆ Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
▼ + stars: | 2023-07-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.

Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, —, Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan

☆ Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits
▼ + stars: | 2023-04-18 | by ( Emma Newburger | ) www.cnbc.com time to read: +4 min

Brown | AFP | Getty ImagesFewer electric vehicles now qualify for federal tax credits after the Biden administration this week unveiled stricter rules for battery sources that will prioritize domestically manufactured models. The new list published by the Treasury Department includes 16 U.S. manufactured models from Ford , General Motors , Tesla and Stellantis . Ten of the models on the new list will qualify for the full $7,500 tax credit, with the rest qualifying for half that amount. Vehicles losing credits include those from BMW, Hyundai, Nissan, Rivian , Volkswagen and Volvo Cars. The bill set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to qualify for the $7,500 tax credit.

☆ UAW leadership faces historic upheaval ahead of union negotiations with Detroit automakers
▼ + stars: | 2023-02-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – As the United Auto Workers prepares for what are expected to be highly contentious negotiations with the Detroit automakers later this year, the union's leadership is undergoing its largest upheaval in decades. The shuffle follows a years-long federal investigation that uncovered systemic corruption involving bribery, embezzlement and other crimes among the top ranks of the organized labor group. A reform group called UAW Members United has successfully campaigned to elect five new representatives to the 14-member board, but not all seats are settled. For investors, UAW negotiations are typically a short-term headwind every four years that result in higher costs. Canadian union Unifor will also be simultaneously negotiating this year with the Detroit automakers, adding even more complexity and competition for investments and jobs.

☆ Honda's new $4.4 billion EV battery plant will be built in Ohio
▼ + stars: | 2022-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

An employee inspects the door of a 2018 Honda Accord vehicle during production at the Honda of America Manufacturing Inc. Marysville Auto Plant in Marysville, Ohio, on Thursday, Dec. 21, 2017. Honda Motor and LG Energy Solution on Tuesday said a new multibillion-dollar plant to produce batteries for electric vehicles will be located in Ohio. The battery plant is expected to cost $3.5 billion, with overall investment by the unnamed joint venture eventually reaching $4.4 billion, the companies said. Honda and LGES announced plans for the joint venture and battery plant last year, but had not revealed a location. In addition to the new battery plant, Honda on Tuesday said it plans to invest $700 million to retool several of its existing auto and powertrain plants for production of EVs.

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