DIRS.INFO The most relevant business & tech news

☆ A Summer of Strikes
▼ + stars: | 2023-09-03 | by ( Molly Cook Escobar | Christine Zhang | ) www.nytimes.com time to read: +7 min

A Summer of Strikes Work stoppages in the United States this year could reach heights rarely seen in recent decades. “Those are not just the big strikes that are in the news, but there are many smaller strikes across every industry,” said Kate Bronfenbrenner, a senior lecturer at Cornell University's School of Industrial and Labor Relations. Some, like Dr. Bronfenbrenner, see the resurgence of strikes and union organizing as a lasting trend. Surveys have shown increased public support for unions in recent years, she said, even as private sector union membership remains low. “When you have large strikes that are like waves across the country, they are contagious,” said Dr. Bronfenbrenner.

Persons: Jan, Ed, Ruth, Ronald Reagan, Joseph A, Reagan, McCartin, ”, Kate Bronfenbrenner, Bronfenbrenner Organizations: SAG, Verizon, General Motors, Railway, The New York Times, Hollywood, United Parcel Service, United Auto Workers, Ford Motor, City University of New York’s Graduate Center and School of Labor, Urban Studies, Gallup, Georgetown University, “, Union, Mining, Arts, Retail, Public, Agriculture, Cornell University’s School of Industrial and Labor Relations, Cornell University's School of Industrial and Labor Relations Locations: United States, McCartin, walkouts

☆ Why auto worker strikes against GM, Ford and Stellantis seem inevitable
▼ + stars: | 2023-09-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Unlike prior union leaders, Fain is attempting to negotiate with all three automakers at once, refusing to select a "target" company to focus on while extending deals at the others. He's also been far more confrontational with the automakers compared to previous union leaders, at times launching personal attacks on executives. "I think there's a reasonable chance they strike Stellantis first and then give a couple more days for Ford and GM to give a better offer." The union could use that work stoppage as a warning to GM and Ford to finalize their deals, he said. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit.

Persons: Michael Wayland, Shawn Fain, He's, he's, Fain, —, Wheaton, Biden, Gene Sperling, Morgan Stanley, That's, aren't, I've, Dennis Devaney, Clark Organizations: United Auto Workers, CNBC DETROIT – United Auto Workers, Detroit, General Motors, Ford Motor, GM, National Labor Relations Board, UAW, Worker Institute, Cornell University, Ford, White, Wall, Industry, NLRB, Hamtramck Assembly, CNBC Locations: Detroit, Stellantis, U.S, Hamtramck

☆ UAW files unfair labor practice charges against GM, Stellantis
▼ + stars: | 2023-09-01 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Both GM and Stellantis denied the unfair labor charges. Fain said the Detroit automakers want the ability to close U.S. auto plants and move them to low-wage countries, adding that threats by the automakers to close U.S. plants are "economic terrorism." The current four-year labor agreements covering 146,000 workers at the Detroit Three automakers expire on Sept. 14. Stellantis said it was shocked by the UAW claims "that we have not bargained in good faith. Stellantis also said it was disappointed that Fain "is more focused on filing frivolous legal charges than on actual bargaining."

Persons: Rebecca Cook, Stellantis, Shawn Fain, Fain, Ford, Gerald Johnson, Johnson, David Shepardson, Chris Reese, Leslie Adler Organizations: General Motors, REUTERS, United Auto Workers, National Labor Relations, Chrysler, Ford, Reuters, Detroit automakers, Tesla, Detroit, UAW, U.S, Thomson Locations: Detroit , Michigan, U.S

☆ UAW files unfair labor practice against GM, Stellantis
▼ + stars: | 2023-09-01 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsAug 31 (Reuters) - The United Auto Workers union said on Thursday it filed unfair labor practice charges with the National Labor Relations Board against General Motors (GM.N) and Chrysler-parent Stellantis (STLAM.MI), saying they have refused to bargain in good faith. Both GM and Stellantis denied the unfair labor charges. The current four-year labor agreements covering 146,000 workers at the Detroit Three automakers expire on Sept. 14. Stellantis said it was shocked by the UAW claims "that we have not bargained in good faith. GM manufacturing chief Gerald Johnson said the company strongly refuted the unfair labor charge.

Persons: Rebecca Cook, Stellantis, Shawn Fain, Fain, Ford, Gerald Johnson, Johnson, David Shepardson, Chris Reese, Leslie Adler Organizations: Ford Rouge Electric Vehicle, REUTERS, United Auto Workers, National Labor Relations, General Motors, Chrysler, Ford, UAW, Detroit automakers, Tesla, Detroit, U.S, Thomson Locations: Dearborn , Michigan, U.S

☆ Ford to replace rear cameras in new recall, take $270 million charge
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +1 min

Ford Motor said on Friday it will recall 169,000 U.S. vehicles to replace rearview cameras and update software and is taking a $270 million charge to address the callback. It was the latest in a series of recalls for rear camera-related recalls by the No. The Detroit automaker in May issued a recall of 422,000 vehicles in the United States because the rearview camera display might fail following an earlier camera recall in January of 462,000 vehicles worldwide. Ford said in the latest recall it has 3,486 warranty reports alleging rear camera failures and reports of two minor crashes but no injuries. Since 2021, NHTSA has been investigating if Ford delayed a 2020 recall of 620,000 vehicles for a rear camera issue and if it recalled enough vehicles.

Persons: Ford Organizations: Ford, Co, Auto, Ford Motor, Detroit, Traffic Safety Administration, Bronco, Securities and Exchange Commission, NHTSA Locations: Detroit , Michigan, U.S, United States

☆ Ford makes UAW a contract offer
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowAug 31 (Reuters) - Ford Motor (F.N) has made a contract offer to the United Auto Workers (UAW), the company said on Thursday. The contract offer would provide hourly employees with 15% guaranteed combined wage increases and lump-sums, and improved benefits over the life of the contract, the company said in a statement. Wages, including overtime, and lump-sum bonuses for Ford's UAW-represented hourly workers would increase from $78,000 on average in 2022 to $92,000 in the first year of the contract, the automaker said. Reporting by Gursimran Kaur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Gursimran Kaur, Shailesh Organizations: Ford, REUTERS, United Auto Workers, UAW, Ford's UAW, Thomson Locations: Liverpool, Britain, Bengaluru

India's EV market is small, with Tata Motors (TAMO.NS) dominating sales that made up less than 2% of all cars sold last fiscal year. All sources declined to be identified as the talks are still ongoing and a final decision has not been made. Founded in 2015, Leapmotor has less than 2% share of China's fragmented EV market, where it sells four mass market electric models. This has also forced MG Motor India to find local investors like JSW so it can raise equity. Leapmotor also has been in partnership talks with other major automakers, including Stellantis (STLAM.MI) and Volkswagen (VOWG_p.DE), according to media reports.

Persons: JSW, Leapmotor, Sajjan Jindal, Aditi Shah, Zhang Yan, Neha Arora, Kim Coghill Organizations: REUTERS, DELHI, HK, MG Motor India, China's SAIC Motor Corp, EV, Tata Motors, MG Motor, Ford, JSW, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, India, EVs, New Delhi, Shanghai

☆ UAW president says union has filed unfair labor practice charges against GM, Stellantis over contract talks
▼ + stars: | 2023-08-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT — United Auto Workers has filed unfair labor practice charges against automakers General Motors and Stellantis to the National Labor Relations Board for not bargaining with the union in good faith or a timely manner, UAW President Shawn Fain said Thursday night. The union did not file a complaint against Ford Motor , as Fain said the company responded to the UAW's demands with a counterproposal he heavily criticized. "GM and Stellantis' willful refusal to bargain in good faith is not only insulting and counterproductive, it's also illegal," Fain said during a Facebook Live. "That's why today, our union filed unfair labor practice charges, or ULPs, against both GM and Stellantis with the National Labor Relations Board." Regarding Ford's recent proposal, Fain called it "concessionary."

Persons: Shawn Fain, Fain, Stellantis, it's, Fain's, Ford, Jim Farley, Farley Organizations: DETROIT, United Auto Workers, General Motors, National Labor Relations Board, Ford Motor, GM, NLRB, —, Ford

☆ VinFast’s volatile stock has an easy, painful fix
▼ + stars: | 2023-08-30 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

On Tuesday the Vietnamese nascent electric-car maker’s shares capped a flighty first fortnight as a publicly traded company by tumbling 44%. Yet the unprofitable manufacturer still sports a racy $107 billion market capitalisation courtesy of the previous eightfold rocketing of its stock since its merger with a blank cheque company in mid-August. Even with the wild swings, the stock trades almost five times higher than what already looked like a punchy valuation when the merger was announced in May. Granted, VinFast might not be desperate for cash – parent Vingroup (VIC.HM) and Vuong injected $2.5 billion in April. Absent a rapid rise in car sales, though, VinFast’s zippy valuation is heading for more crashes anyway.

Persons: Steve Marcus, David Mansfield, Le Thi, –, Pham Nhat Vuong, Vuong, it’s, VinFast, Una Galani, Thomas Shum Organizations: VinFast Global, Las Vegas Convention, REUTERS, Rights MELBOURNE, Reuters, VinFast Auto, Finance, Vietnam’s, Ford, GM, Thomson Locations: Las Vegas , Nevada, U.S

☆ Alphabet moonshots are ready for launch
▼ + stars: | 2023-08-29 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

Alphabet logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 29 (Reuters Breakingviews) - Alphabet (GOOGL.O) is poised to welcome the autumn harvest. Verily boss Stephen Gillett told employees this month that it will cut its ties to several of Alphabet’s services next year. Such a financial services business strays from Alphabet’s wheelhouse, and with artificial intelligence demanding fresh attention, it’s wise to be prudent about capital allocation. Waymo, the autonomous vehicle technology business, secured a vote of approval this month from San Francisco to operate driverless rideshares in the city.

Persons: Dado Ruvic, Ruth Porat, Morgan Stanley, ”, Stephen Gillett, wheelhouse, Chris Hohn’s, Ford, Porat, Verily, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: REUTERS, Reuters, Life Sciences, Wall Street Journal, Temasek, TCI Fund Investments, Google, Sciences, Wall, Thomson Locations: San Francisco

☆ Canadian union Unifor names Ford as bargaining target among Detroit Three
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Athit Perawongmetha Acquire Licensing RightsAug 29 (Reuters) - Canadian union Unifor on Tuesday announced Ford Motor (F.N) as its potential target for negotiations amid contract talks with the Detroit Three automakers. Unifor President Lana Payne noted that Ford's Windsor, Ontario engine plant, which her union represents, builds engine for some of the company's most profitable trucks. The UAW, which represents about 150,000 workers at the Detroit Three's U.S. factories, has not yet chosen one company to lead contract talks. UAW President Shawn Fain has said all the three companies - Ford, General Motors (GM.N) and Stellantis NV - need to conclude new contracts by a Sept. 14 deadline. Unifor, which represents 18,000 members at Ford, GM and Stellantis in Canada, had opened formal negotiations with the three companies on Aug. 10 in Toronto.

Persons: Athit, Ford, Lana Payne, Payne, Shawn Fain, Nathan Gomes, Joe White, Shivansh Tiwary, Maju Samuel Organizations: REUTERS, Tuesday, Detroit Three, United Auto Workers, UAW, Detroit, Ford, Detroit Three's, General Motors, Stellantis, GM, Thomson Locations: Bangkok, Thailand, Canada, Windsor , Ontario, Detroit Three's U.S, Toronto, Bengaluru, Detroit

☆ Vinfast rallies on after becoming world's third-most valuable automaker
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

The logo of VinFast is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker - only behind Tesla (TSLA.O) and Toyota (7203.T). The stock was on track to add nearly $50 billion to its market capitalization, based on the premarket share price of $90.55. Vinfast expects to sell as many as 50,000 electric vehicles this year, compared with Tesla's projection to deliver 1.8 million cars. To drive sales, Vinfast is breaking away from the direct-to-consumer approach used by Tesla and turning to dealers.

Persons: Stephane Mahe, Pham Nhat Vuong, Tesla, Vinfast, Akash Sriram, Devika Organizations: REUTERS, Toyota, Ford Motor, General Motors, Reuters, P Global Mobility, U.S, Tesla, Thomson Locations: Paris, France, U.S, United States, North Carolina, Bengaluru

☆ Electric Vehicle Charging Can Be Confusing. Here’s What to Know.
▼ + stars: | 2023-08-28 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: 1 min

With a push from Congress, automakers and charging companies are planning to install tens of thousands of fast chargers on American highways capable of refueling electric cars in half an hour or less. That’s good news for anyone who owns an electric car or is thinking about buying one. But it’s also confusing because of a debate about what kind of plugs those new chargers and cars will use now and in the future. Ford Motor, General Motors, Mercedes-Benz and other automakers plan to abandon the plugs their electric cars use today for those designed by Tesla. But they won’t begin selling cars with the Tesla plugs until 2025.

Persons: it’s Organizations: Ford Motor, General Motors, Mercedes, Benz, Tesla, Ford, Chevrolet

Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Gallup reports 71% of Americans approved of labor unions in 2022 — the highest since 1965. United Airlines struck a preliminary agreement with its pilots union last month for up to 40% raises over four years. Casey Murray, president of the Southwest Airlines Pilots Association, said frequent reassignments can wear pilots down, just as they would passengers. "They need that predictability," he said, adding that the company has made some progress in talks with the pilots' union in recent weeks.

Persons: Michael Wayland, Robert Bruno, Mario Tama, Daniel, Chris, Wells, Shawn Fain, CNBC It's, Melissa Atkins, hadn't, Johnnie Kallas, Cornell's, Casey Murray, UIUC's Bruno, it's Organizations: United Auto Workers, CNBC, UPS, Workers, Boeing, Spirit, Guild of America, Labor, University of Illinois, Striking, Paramount Studios, Getty, Cornell University School of Industrial and Labor Relations, Screen, – American Federation of Television, Radio Artists, Writers Guild of America, U.S . Bureau of Labor Statistics, Gallup, General Motors, Ford Motor, UAW, Deere, CNH, Detroit, Teamsters Union, Delta Air Lines, American Airlines, United Airlines, Netflix, Warner Bros ., WGA, SAG, Hollywood, Southwest Airlines, Southwest Airlines Pilots Association, U.S, Teamsters Locations: Detroit, Amazon, University of Illinois Urbana, Champaign, Los Angeles, Hollywood

Aug 25 (Reuters) - The United Auto Workers (UAW) union on Friday said members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if agreement is not reached before the current four-year contract expires on Sept. 14. Fain reiterated that the union did not plan to extend the deadline to get a new labor contract. We have a lot of options that we are looking at but extension on the contract is not one of them." Fain said he expected the Detroit Three to come to the bargaining table next week with counter proposals to the UAW demands. The vote does not guarantee a strike will be called, only that the union has the right to call a strike if there's no agreement by Sept. 14.

Persons: Shawn Fain, Fain, We've, Shivansh, Joe White, David Shepardson, Nathan Gomes, Arun Koyyur, Emelia Organizations: United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Detroit, Ford, Thomson Locations: Bengaluru, Detroit, Washington

☆ UAW members authorize strike at Detroit Three automakers
▼ + stars: | 2023-08-25 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

Aug 25 (Reuters) - The United Auto Workers (UAW) union on Friday voted in favor of authorizing a strike at the Detroit Three automakers if an agreement over a new contract is not reached before the current one expires on Sept. 14, UAW President Shawn Fain said. "Our members expectations are high because Big Three profits are so high," Fain said. Stagnant pay, high healthcare costs, less sick time and uncertain scheduling have pushed American union workers to rethink their priorities after pandemic to seek higher wages, and better work-life balance. Michigan-based Anderson Economic Group has estimated that a 10-day strike that shuts down the automakers could cost manufacturers, workers, suppliers and dealers more than $5 billion. Walkouts at the Detroit Three could benefit Tesla (TSLA.O) and other non-union automakers, including Toyota Motor (7203.T) Honda Motor (7267.T), Nissan Motor (7201.T) and Hyundai Motor (005380.KS), Anderson said.

Persons: Shawn Fain, Fain, Aerosystems, Anderson, Shivansh, Nathan Gomes, Arun Koyyur Organizations: United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Big, U.S, GM, Ford, Anderson Economic, Detroit, Toyota, Honda, Nissan, Hyundai, Thomson Locations: U.S, Detroit, Michigan, Bengaluru

☆ Tesla Autopilot safety probe by federal vehicle regulators nears completion
▼ + stars: | 2023-08-25 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

A multiyear investigation into the safety of Tesla's driver assistance systems by the National Highway Traffic Safety Administration, or NHTSA, is drawing to a close. Tesla cars cannot function as robotaxis like those operated by General Motors -owned Cruise or Alphabet 's Waymo. Tesla CEO Elon Musk — who also owns and runs the social network X (formerly Twitter) — often implies Tesla cars are autonomous. But it's not clear that this is a strong enough system to ensure safe use of Tesla's driver assistance features. In 23 of these incidents, the agency report says, Tesla's driver assistance features were in use within 30 seconds of the collision.

Persons: David Shepardson, Ann Carlson, Elon Musk —, —, Musk, Tesla, Elon Organizations: National, Traffic Safety Administration, Reuters, CNBC, NHTSA, General Motors, FSD Beta, SAE International, Ford Locations: U.S

☆ UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
▼ + stars: | 2023-08-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – United Auto Workers members overwhelmingly granted union leaders authorization to strike during ongoing contract negotiations with General Motors , Ford Motor and Stellantis , if warranted. That's in line with support during negotiations four years ago, when 96% of workers who voted supported authorization for a strike. The "strike authorization vote" is part of the union's constitution and viewed as a procedural step in the negotiations. Our goal is to bargain good agreements for our members," UAW President Shawn Fain said Friday during a Facebook Live. And whether or not there's a strike — it's up to Ford, General Motors and Stellantis, because they know what our priorities are.

Persons: Shawn Fain, Fain, Ford, We've Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, UAW

☆ GM's Ultium agrees to increase EV battery worker pay by 25% on average
▼ + stars: | 2023-08-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. DETROIT — General Motors' Ultium Cells has agreed to increase worker pay at its battery plant in Ohio by an average of 25%, the company and United Auto Workers union said Thursday. The deal is a major win for the union, as it's the first major organized battery plant in the country. The union previously argued the battery workers should make the same wages as their traditional counterparts assembling engines and cars. Ultium workers currently make between roughly $20 and $25 an hour for production workers and $25 to $34.60 an hour for maintenance employees.

Persons: Josh Ayers Organizations: Motors, Tech Center, DETROIT —, United Auto Workers, LG Energy, UAW, Detroit automakers, GM, Ford Motor Locations: Warren , Michigan, DETROIT, Ohio

"Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers." Interest in hybrids is rebounding as consumer demand for pure electrics has not accelerated as quickly as expected. Sales of pure electrics will claim about 37%, leaving combustion vehicles — including so-called “mild” hybrids — with a nearly 40% share. In addition to new pure electric models coming soon, "we are very bullish on hybrids going forward," a spokesperson said. Hyundai and sister brand Kia offer seven hybrid models, with Ford and Lincoln six.

Persons: Mike Blake, Tim Ghriskey, Ingalls, Snyder, ”, Sam Fiorani, Ford, Jim Farley, ” Farley, “, Stellantis, GlobalData, ” Stellantis, Andrew DiFeo, Augustine, Biden, “ I've, I've, Paul Lienert, Ben Klayman, Nick Zieminski Organizations: Toyota, Los Angeles Auto, REUTERS, Rights, Ford, Reuters, AutoForecast Solutions, P Global, General Motors, Chrysler Pacifica, U.S, Lexus, Hyundai, Kia, Lincoln, Chevrolet Corvette, Thomson Locations: Los Angeles , California, U.S, America, New York, St, Jacksonville , FL, Detroit

☆ Tesla shares gain as Baird Equity adds stock to 'best ideas' list
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 21 (Reuters) - Electric-vehicle maker Tesla's (TSLA.O) shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its "best ideas" list. Bearish investors will point to lower production, said Baird, but added Tesla was still on pace to achieve its production forecast of 1.8 million vehicles this year. Tesla sparked a price war earlier this year and last week slashed prices of three models in China. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Baird, Tesla, Rivian, Akash Sriram, Jaspreet Singh, Krishna Chandra Organizations: REUTERS, Equity Research, stoke, Apple, Ford Motor, Thomson Locations: Bern, Switzerland, China, Bengaluru

☆ US auto safety agency probes 2022 Ford Mach-E EV recall
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsAug 21 (Reuters) - U.S. auto safety regulators said Monday they are investigating whether Ford Motor's (F.N) 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns. Ford issued the 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of power, increasing the risk of a crash. Following the recall, Ford issued a technical service bulletin to replace the High Voltage Battery Junction Box on recalled vehicles. The National Highway Traffic Safety Administration said it has opened a recall query after receiving 12 consumer complaints regarding Mach-E vehicles that received recall fixes.

Persons: Phil Noble, Ford, David Shepardson, Jason Neely Organizations: Ford, REUTERS, High, Traffic Safety Administration, Thomson Locations: Liverpool, Britain

☆ Automaker Stellantis has discussed moving pickup truck production from the U.S. to Mexico, union leader says
▼ + stars: | 2023-08-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

WARREN, Mich. – Automaker Stellantis has threatened to move production of the current Ram 1500 pickup truck from a factory in suburban Detroit to Mexico, a union leader said Sunday. United Auto Workers Vice President Rich Boyer, who heads the union's Stellantis unit, said the automaker has discussed the move during ongoing contract negotiations that are occurring simultaneously but separately between the UAW and General Motors, Stellantis and Ford Motor . Boyer said the company's plans would include producing a new all-electric Ram pickup truck at the Sterling Heights Assembly Plant, which currently produces most of the Ram light-duty pickups. "He don't give a s*** about the American auto worker," Boyer said wearing a red UAW shirt with "UNITED WE STAND DIVIDED WE FALL." "They have said they want to take the Ram 1500 ICE and send it to Mexico."

Persons: WARREN, Stellantis, Rich Boyer, Boyer, There's, didn't, Carlos Tavares Organizations: Sunday, United Auto Workers, UAW, General Motors, Stellantis, Ford Motor, Sterling Heights Assembly, Solidarity, ICE Locations: Mich, Detroit, Mexico, Sterling Heights

☆ Limited-edition 2025 Mustang GTD: 800+ horsepower and a $300,000 sticker
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

[1/5] The new 2025 Ford Mustang GTD, a $300,000 limited-edition performance car, is shown in this undated company handout photo released to Reuters on August 17, 2023. Ford Motor Company/Handout via REUTERS Acquire Licensing RightsAug 17 (Reuters) - Ford Motor (F.N) is joining rival General Motors in the U.S. supercar ranks with the launch of the 2025 Mustang GTD, a limited-edition, high-performance hot rod priced from $300,000. The Mustang GTD is loosely based on the 2024 Mustang coupe that is priced from around $31,000. But the Mustang GTD really has more in common with the new Mustang GT3 racecar that is expected to compete next year at the 24 Hours of Le Mans, one of the world's premier endurance races. A spokesperson would say only that GTD production will be "more than 50 cars."

Persons: Jim Farley, Aston Martin, James Bond, Farley, Ford's, Paul Lienert, Rosalba O'Brien Organizations: Reuters, Ford Motor Company, REUTERS Acquire, Ford, General Motors, U.S, Porsche, Benz, Aston Martin, British, Cadillac, Thomson Locations: Ontario, Warren , Michigan, Detroit

☆ 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

Search resuls for: "Ford Motor"

25 mentions found