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☆ Volvo Cars CEO strikes cautious tone on solid-state battery technology
▼ + stars: | 2023-10-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: 1 min

The CEO of Volvo Cars is bullish about the long-term potential of electric motors, but appears more cautious on solid-state batteries — technology that's generated much hype around its potential to transform the performance of EVs. Speaking to CNBC's Squawk Box Europe on Thursday morning, Jim Rowan said electric motors were seeing "massive improvements." However, on solid-state batteries he said: "My personal opinion is that solid-state is still some years off, but of course we're involved in the research and development around that." "But I think there's many more incremental benefits that we're going to see with the current electrical propulsion systems, that [are] … just going to continue to drive performance," Rowan added.

Persons: Jim Rowan, Rowan Organizations: Volvo

☆ Mack Trucks says UAW demands unrealistic, no new talks set
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: 1 min

The logo of Mack Trucks is seen on a truck in a yard in Mejicanos, El Salvador, August 16, 2018. REUTERS/Jose Cabezas/File Photo Acquire Licensing RightsOct 26 (Reuters) - Volvo Group-owned (VOLVb.ST) Mack Trucks said Thursday the United Auto Workers' contract demands are unrealistic and that no new talks are scheduled after workers went on strike on Oct. 9, following their rejection of a proposed five-year contract. About 73% of the unit's 4,000 workers in Pennsylvania, Florida and Maryland voted against a tentative agreement that included a 19% pay raise that had been endorsed by UAW leaders. Mack Trucks said the UAW leadership's economic demands "continue to be unrealistic." Reporting by David Shepardson; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Mack Trucks, Jose Cabezas, David Shepardson, Tom Hogue Organizations: REUTERS, Volvo Group, United Auto Workers, UAW, Thomson Locations: Mejicanos, El Salvador, Pennsylvania, Florida, Maryland

☆ European stocks open lower as earnings roll in; Standard Chartered plunges 10%; ECB set to hold rates
▼ + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Auto stocks plunged 3.45% as results disappointed, while travel stocks traded 1.7% lower. European stock markets opened sharply lower Thursday as attention remains on third-quarter earnings and government bond yields. Results are out from a slew of companies including Standard Chartered, BNP Paribas, TotalEnergies, Volvo Cars, Novozymes, Volkswagen, Carrefour, Saab and Wacker Chemie. Meanwhile, monetary policy decisions are due from the European Central Bank — for which markets have priced in a more than 98% likelihood of a hold in interest rates — and the central bank of Turkey, from which economists polled by Reuters anticipate a 500 basis point hike to 35%. The benchmark 10-year Japanese government bond yield hit a fresh 10-year high ahead of a central bank meeting next week, according to Reuters data.

Organizations: Chartered, Standard Chartered, BNP, TotalEnergies, Volvo, Volkswagen, Carrefour, Saab, Wacker Chemie, Investors, Facebook, Meta, European Central Bank —, Reuters, Treasury Locations: London, Turkey, Asia, Pacific

☆ Volvo Cars' promise of EV boom falls on deaf ears as shares drop 12%
▼ + stars: | 2023-10-26 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

As the company reported third-quarter earnings, Chief Executive Jim Rowan told Reuters that he saw healthy demand for its cars, and was optimistic the margins would increase further in the fourth quarter. Volvo's BEV margins were 9% in the quarter, a sharp increase from the previous quarter's figure of 3%. Rowan said he expected the trend of falling prices of raw materials to continue, helping the company increase margins further for the fourth quarter. Investors proved unconvinced, as Volvo shares, down 10% by 1014 GMT, after having fallen as much as 12%, looked set for their biggest ever one-day drop. EV makers have engaged in stiff competition this year, after Tesla ignited a price war intensified by new Chinese players.

Persons: Aly, Jim Rowan, EVs, BEV, Rowan, Jefferies, Philippe Houchois, Houchois, Tesla, China's Geely, Marie Mannes, Greta Rosen Fondahn, Terje Solsvik, Clarence Fernandez Organizations: Volvo, Auto Shanghai, REUTERS, Rights, Reuters, Benz, Motors, Ford, Volkswagen, China's, Thomson Locations: Shanghai, China, Rights STOCKHOLM, EVs

☆ $100 billion property giant Prologis sealed a huge EV charging station deal. It hints at a new opportunity for real estate investors.
▼ + stars: | 2023-10-23 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +16 min

Late last year, it installed 38 chargers for electric trucks operated by Maersk at two sites in the Los Angeles area. There were 1.8 million conventional medium and heavy duty commercial vehicles operating in the state in 2021, according to data from the California Air Resources Board. Arnold said electric charging sites might be more lucrative than traditional industrial outdoor storage properties. The EV-charging business' chicken-and-egg problemOne of the biggest constraints to the development of charging sites is the availability of power. PDS operates about 320 diesel rigs, Gillis said, but because of the rules, will purchase "20 to 30 electric trucks" a year to steadily electrify its fleet.

Persons: Henrik Holland, John O'Leary, O'Leary's, Holland, Crawford Arnold, Arnold, Southern California Reuters Arnold, Vernon, Rivian, Gage, Zeina, Azzi, she'd, Jim Hurless, Hurless, Michael Bresnahan, Bresnahan, Elon Musk, Tesla, Greg Pearson, Pearson, Frank Schulz, Marijan Murat, Jim Gillis, Gillis, Emil Abdelshehid, We're, Nikola, Moshe Cohen, Cohen Organizations: Shell, Prologis, Maersk, Daimler Truck North, Mercedes, Freightliner, Government, California Air Resources Board, US Department of Energy, IOS, Investors, Shipping, Southern California Reuters, Amazon, FedEx, UPS, Colorado ., Chateau Energy Solutions, Tesla, Klabin, Getty, Los, Pacific Drayage Services, Los Angeles Department of Water, PDS, Volvo, Inc Locations: Southern California, Danish, Los Angeles, Long, Los Angeles County, Torrance, Daimler Truck North America, California, Vernon, of Long Beach, Newark , New Jersey, Texas, New York City, New Jersey, Colorado, Inland, Fontana, San Bernardino, Brooklyn

☆ Nestle, Volvo among 130 companies urging COP28 agreement to ditch fossil fuels
▼ + stars: | 2023-10-23 | by ( Tommy Wilkes | ) www.reuters.com time to read: +2 min

LONDON, Oct 23 (Reuters) - Companies including Nestle (NESN.S), Unilever (ULVR.L), Mahindra Group and Volvo Cars are urging political leaders to agree a timeline at the upcoming U.N. climate summit to phase out fossil fuels. "Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change," the companies wrote in the letter, which was coordinated by the non-profit We Mean Business Coalition, which is pushing for greater climate action globally. "To decarbonise the global energy system, we need to ramp up clean energy as fast as we phase out the use and production of fossil fuels," they wrote. The speed at which countries should phase out fossil fuels will be one of the thorniest issues. Reporting by Tommy Reggiori Wilkes; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: COP28, Tommy Reggiori Wilkes, Emelia Sithole Organizations: Companies, Nestle, Unilever, Mahindra Group, Volvo, Business Coalition, Bayer, Heineken, IKEA, Thomson Locations: Dubai, Paris, Europe

☆ Consumers can now find huge discounts on electric cars
▼ + stars: | 2023-10-21 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Thanks to growing competition in the market, and some reticence from consumers, automakers and car dealers are offering huge discounts on electric vehicles, particularly luxury models. In September 2022, the average electric vehicle purchased in the United States, excluding Teslas, went for about $1,500 over sticker price. (Remember, for most new vehicles, the manufacturer’s suggested retail price, or sticker price, is just a suggestion, with the final selling price usually higher or lower.) In sheer dollars, the average price paid for a non-Tesla electric vehicle actually went up slightly over the past year. A couple looks at a Volkswagen ID.4 electric vehicle while shopping at a new car dealership.

Persons: Joseph Yoon, Pat Ryan, ” Ryan, Michael Nagle, Tesla, It’s, Yoon, Alison Flores, “, Edmunds, Charles Krupa Organizations: CNN, Edmunds, Nissan, New York, Bloomberg, Getty, Tesla, Teslas, Audi, BMW, Mercedes, Volkswagen, Hyundai, Volvo, Tax, H, AP Locations: Edmunds, United States, That’s

☆ What a Long, Strange and Unsatisfying EV Trip It’s Been
▼ + stars: | 2023-10-20 | by ( James Freeman | ) www.wsj.com time to read: +1 min

Secretary of Energy Jennifer Granholm and Secretary of Transportation Pete Buttigieg charge an electric vehicle in Takoma Park, Maryland in 2021. Photo: michael reynolds/ShutterstockIt’s a hard life on the road, especially when the journey involves politically correct transportation. Regular readers are familiar with the travails of Secretary of Energy Jennifer Granholm and Secretary of Transportation Pete Buttigieg as they have bravely attempted to promote impractical travel. The Times identifies David Gelles as “a correspondent on the Climate desk,” suggesting he’s at least open to the idea of inefficient transport. Sure enough, Mr. Gelles reports in the Times’s Climate Forward newsletter that he’s had good experiences with Tesla and its charging network.

Persons: Energy Jennifer Granholm, Transportation Pete Buttigieg, michael reynolds, Shutterstock, David Gelles, Gelles, he’s, Tesla Organizations: Energy, Transportation, New York Times Locations: Takoma Park , Maryland, Minneapolis

China's decision may escalate trade disputes globally and spur other countries to prioritize research into alternative sources and materials, industry executives said. "We see China's move as a potential catalyst to highlight the urgency of improving (U.S.) graphite supply," said John DeMaio, president of Graphex Group's (6128.HK) graphene division. It has graphite supply deals with Syrah Resources (SYR.AX) and is looking for other sources, DeMaio said. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, Benchmark Mineral Intelligence estimates. Chief Operating Officer Hans Erik Vatne told Reuters recently that developing synthetic graphite production is costly, but that is the price to pay to reduce reliance on China.

Persons: Fabian Bimmer, John DeMaio, Graphex Group's, DeMaio, Tesla, Hans Erik Vatne, Rob Anstey, Alvin Liu, Akash Sriram, Ernest SCheyder, Nick Carey, Christina Amann, Marie Mannes, Gilles Guillaume, Ilona Wissenbach, Ben Klayman, Josie Kao Organizations: Volkswagen, REUTERS, Syrah Resources, Magnis Energy Technologies, Mineral Intelligence, Reuters, EVs, BMO Capital Markets, BMW, Volvo, Renault, General Motors, Ford, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, West, U.S, Europe, Oslo, Norway, Bengaluru, Houston, London, Berlin, Stockholm, Paris, Frankfurt

☆ E.V. Range Anxiety: A Case Study
▼ + stars: | 2023-10-19 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

Electric vehicle sales are booming, and an effort is underway to blanket the country with new charging stations. I’ve been renting electric cars ever since Hertz started offering Teslas as an option a couple of years ago. Whenever I needed to power up, I found one of Tesla’s fast charging stations and was back on the road with a nearly full battery in less than an hour. But when I arrived in Minneapolis for a reporting trip this summer, the Tesla I had reserved wasn’t available. rentals, this would be a bit of a road trip, the kind of long drive through sparsely populated farmland that is a hallmark of American car culture.

Persons: I’ve, Hertz, Tesla Locations: Minneapolis, South Dakota

☆ It could take a decade for other automakers to catch Tesla — and none are 'leading contenders' just yet, experts say
▼ + stars: | 2023-10-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . EV sales are growing — they hit a record 300,000 sales in the US by Q3 — but it's happening at a less rapid pace than many in the industry were anticipating. Pricing, lacking infrastructure, and macroeconomic factors will continue to influence buyers' uptake of EVs other than Teslas, the Cloud Theory report said. As such, Cloud Theory experts say: "No company — not even Tesla — is guaranteed a seat at the head table."

Persons: Tesla, —, Theory, Elon, Rick Wainschel, It's Organizations: Service, Cox Automotive, Ford, Chevrolet, EV, Manhattan Locations: China

DETROIT (AP) — Owners of Toyota and Lexus electric vehicles in North America will be able to charge on Tesla's network starting in 2025, and the Japanese automaker also will start using Tesla's EV connector. In a statement Thursday, Toyota says it will adopt Tesla's North American Charging Standard plug in a little over a year. The announcement comes just after Hyundai, Kia and BMW made similar announcements for their electric vehicles. In June SAE International, formerly the Society of Automotive Engineers, said that it would set performance standards for Tesla’s electric vehicle charging cords. Volvo Cars has also signed a deal with Tesla to join its charging network.

Persons: Rivian, Tesla Organizations: DETROIT, Toyota, Lexus, Tesla, EV, Hyundai, Kia, BMW, SAE International, Society of Automotive Engineers, U.S, Ford, General Motors, Volvo Locations: North America, U.S

☆ Volvo braces for slower truck markets next year after Q3 profit beat
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. Its adjusted operating profit margin widened to 14.4% from 10.3% as price hikes made up for higher costs. The company predicted the European and North American heavy truck markets would total 290,000 vehicles each in 2024. "We expect our major truck markets to continue to be strong throughout this year as we continue to deliver from our large order books to customers, but (we) forecast lower market levels for next year," Lundstedt said. Reporting by Marie Mannes and Marta Frąckowiak; editing by Anna Ringstrom and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Martin Lundstedt, Lundstedt, Hampus Engellau, Marie Mannes, Marta Frąckowiak, Anna Ringstrom, Jason Neely Organizations: Volvo, REUTERS, LSEG, Thomson Locations: Linden , New Jersey, U.S, STOCKHOLM, Swedish, American, Gothenburg, Russia, North America, Europe

New Amazon EV vans powered by Rivian are parked at charging stations at the Amazon Logistics Facility in Chicago, U.S. July 21, 2022. REUTERS/Jim Vondruska/File Photo Acquire Licensing RightsOct 17 (Reuters) - Amazon.com (AMZN.O) has 10,000 Rivian electric delivery vehicles making routes across the U.S. and Europe, the company said during a business presentation on Tuesday. Amazon has partnered with EV maker Rivian (RIVN.O) to have at least 100,000 electric delivery vans on the road by 2030. Amazon, which holds a stake in Rivian, has completed 150 million deliveries with Rivian vans. The Seattle-based company is also working with Volvo to add heavy-duty electric trucks to its middle-mile delivery fleet.

Persons: Jim Vondruska, Amazon, Arriana McLymore, Leslie Adler Organizations: EV, Amazon Logistics, REUTERS, Amazon, Rivian, Volvo, Thomson Locations: Chicago , U.S, Europe, Rivian, Seattle, New York

☆ European stocks retreat as traders track earnings, inflation data
▼ + stars: | 2023-10-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were slightly lower on Wednesday as traders monitored corporate earnings, developments in the Middle East , and key inflation data. The pan-European Stoxx 600 index slipped 0.4% in early trade, with tech stocks shedding 1.7% to lead losses while retail stocks added 0.4%. Shares in Asia-Pacific clawed back some lost ground throughout the trading session overnight, after fresh data showed stronger-than-expected economic growth out of China for the third quarter. Earnings season also gathers steam in Europe, with ASML , SAP, Volvo, Deutsche Boerse and ABB among those reporting Wednesday. Economic data will also be in focus, with inflation data from the U.K. and the euro zone released throughout the morning.

Persons: Morgan Stanley Organizations: Federal Reserve, Stock, Wall, Netflix, Tesla, ASML, SAP, Volvo, Deutsche Boerse, ABB Locations: Asia, China, Europe

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ The billionaire who popularized duty-free shops and gave away his wealth liked to live frugally, from flying economy to driving a used Volvo
▼ + stars: | 2023-10-12 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Duty-free shops innovator Chuck Feeney died this week at the age of 92. AdvertisementAdvertisementIrish-American billionaire Chuck Feeney died this week at the age of 92. According to Irish journalist Conor O'Clery's biography of Feeney, "The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune," Feeney was uncomfortable with his wealth even earlier on in his career. Chuck Feeney lived modestly, preferring rented apartments over mansions. Chuck Feeney is a good hero to have."

Persons: Chuck Feeney, —, Feeney, Conor O'Clery's, Chuck Feeney Secretly, Carnegie Corporation Feeney, O'Clery, Helga, didn't, — they'd, Forbes, Bill Gates, Warren Buffett, frugality — Feeney, Buffett, frugally Organizations: Service, Duty, Shoppers, Facebook, Carnegie Corporation, Timex, Volvo, Gates Locations: American, New Jersey, San Francisco

☆ Tesla keeps chopping prices, making its cars cheaper than even gas competitors
▼ + stars: | 2023-10-12 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Tesla is offering cars well below September's new car average transaction price of $47,899. Tesla's base Model 3 and Model Y are both less than that. Last month, new cars saw an average transaction price (ATP) of $47,899, according to Kelley Blue Book. New car prices have slowly but surely been improving as of late, but are still pretty costly. AdvertisementAdvertisementTo be sure, new car pricing is relatively flat year-over-year (down just $360 from September last year), while used car pricing is more nuanced.

Persons: Tesla, —, Kelley, Elon Musk's, there's Organizations: Service, Cox Automotive, Acura, Lexus, Infiniti, Volvo, stoke

☆ Canadian union Unifor strikes at GM after contract talks fail
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

GM was disappointed about being unable to reach a deal at this time but will continue to negotiate with Unifor, the automaker said in a statement. Unifor represents about 18,000 workers at the Canadian facilities of the Detroit Three automakers, which also include Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). Unifor last month ratified a new three-year contract with Ford that offered wage increases of up to 25% to more than 5,600 workers at its Canadian facilities. Unifor said last week that GM was "resisting" a number of important elements of its agreement with Ford. The union had chosen the company as its second bargaining target of the Detroit Three automakers after Ford.

Persons: Mark Blinch, Unifor, Lana Payne, Mack Trucks, Jason Gale, ” Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed Organizations: General Motors, REUTERS, General, North, Unifor, Detroit Three, Ford, Chrysler, United Auto Workers, UAW, Volvo Group, Detroit, Thomson Locations: Oshawa, St, Catharines, Woodstock, United States, Canada, Ontario, Bengaluru

☆ UAW workers strike Mack Trucks after rejecting contract
▼ + stars: | 2023-10-09 | by ( David Shepardson | ) www.reuters.com time to read: +5 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 9 (Reuters) - Union workers at Volvo Group (VOLVb.ST)-owned Mack Trucks went on strike on Monday after overwhelmingly rejecting a proposed five-year contract, the United Auto Workers said, the latest tentative labor agreement to be voted down. In online forums, some Mack workers complained the raise was too small to keep up with inflation. Canadian workers at GM also face a contract talk deadline at midnight on Monday that could lead to another strike. Mack President Roy said the company "clearly demonstrated our commitment to good-faith bargaining by arriving at a tentative agreement that was endorsed by both the International UAW and the UAW Mack Truck Council." "UAW members and workers across the economy are mobilizing to demand their fair share," the UAW said in a letter to Mack.

Persons: Rebecca Cook, Mack Trucks, Detroit's, Mack, Shawn Fain, Stephen Roy, GM's, Mack President Roy, Roy, Fain, Ford, David Shepardson, Abhijith, Arun Koyyur, Matthew Lewis, David Gregorio Our Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, Volvo Group, UAW, Detroit's Big, Unions, FedEx, Detroit Three, General Motors, Ford Motor, Chrysler, GM, Ford, International UAW, UAW Mack Truck Council, Volvo, Detroit, Deutsche Bank, Anderson Economic, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Pennsylvania, Florida, Maryland, North, Washington, Bengaluru

☆ UAW workers reject Mack Trucks contract, go on strike
▼ + stars: | 2023-10-09 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

A United Auto Workers union member holds a sign outside Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. About 73% of workers - covering 4,000 workers in Pennsylvania, Florida and Maryland - voted against the deal, the UAW said. After Mack workers voted down the deal, the UAW sent a strike notice to the company saying "many topics" remain at issue, including wage increases, cost-of-living allowance, job security and wage progression. "We clearly demonstrated our commitment to good faith bargaining by arriving at a tentative agreement that was endorsed by both the International UAW and the UAW Mack Truck Council," Roy said. "UAW members and workers across the economy are mobilizing to demand their fair share," the UAW said in a letter to Mack.

Persons: Rebecca Cook, Mack Trucks, Mack, Shawn Fain, Stephen Roy, Roy, Fain, Ford, David Shepardson, Abhijith Ganapavaram, Jacqueline Wong, Jamie Freed, Michael Perry, Arun Koyyur Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, Volvo Group, UAW, Unions, FedEx, Detroit Three, General Motors, Ford, Chrysler, International UAW, UAW Mack Truck Council, Volvo, Detroit, Kaiser Permanente, U.S, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Pennsylvania, Florida, Maryland, North, United States

☆ UAW workers reject Mack Trucks contract, will strike
▼ + stars: | 2023-10-09 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

A United Auto Workers union member holds a sign outside Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. About 73% of workers voted against the deal covering 4,000 workers in Pennsylvania, Florida and Maryland, the UAW said. The proposed Mack deal had included a 19% pay hike, a $3,500 ratification bonus, improved retirement benefits, additional vacation for some employees and a reduction in the time needed to get to top pay. "We clearly demonstrated our commitment to good faith bargaining by arriving at a tentative agreement that was endorsed by both the International UAW and the UAW Mack Truck Council," Roy said. "As you are aware, UAW members and workers across the economy are mobilizing to demand their fair share," the UAW said in a letter to Mack.

Persons: Rebecca Cook, Mack Trucks, Mack, Shawn Fain, Stephen Roy, Roy, Fain, Ford, David Shepardson, Jacqueline Wong, Jamie Freed, Michael Perry Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, Volvo Group, UAW, Unions, FedEx, Detroit Three, General Motors, Ford, Chrysler, International UAW, UAW Mack Truck Council, Volvo, Detroit, Kaiser Permanente, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Pennsylvania, Florida, Maryland, North, United States

☆ UAW Goes on Strike at Volvo’s Mack Trucks Unit
▼ + stars: | 2023-10-09 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/autos/uaw-goes-on-strike-at-volvos-mack-trucks-unit-f51781ad

Persons: Dow Jones, mack Organizations: uaw

☆ UAW Mack Trucks union members to join striking Detroit autoworkers on picket lines after voting down tentative deal
▼ + stars: | 2023-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. DETROIT – About 3,900 United Auto Workers members with Mack Trucks will go on strike Monday after a majority of members rejected a tentative agreement reached last week by the union and company. The tentative agreement was voted down by 73% of UAW members who voted, the union said Sunday night. The Mack Trucks workers will add to tens of thousands of other striking UAW members, most notably more than 25,000 employees with General Motors , Ford Motor and Stellantis . Mack Trucks President Stephen Roy said the company is "surprised and disappointed that the UAW has chosen to strike, which we feel is unnecessary."

Persons: Mack Trucks, Shawn Fain, Mack, what's, Fain, Detroit autoworkers, Stephen Roy Organizations: UAW, DETROIT –, United Auto Workers, Workers, General Motors, Ford Motor, Detroit, Volvo Group, Detroit automakers, CNBC Locations: Chicago , Illinois, DETROIT, Pennsylvania , Maryland, Florida

New York CNN —The United Auto Workers (UAW) says its members have voted to reject a tentative agreement with Mack Trucks and will go on strike Monday. Stephen Roy, president of Mack Trucks, was quoted by Reuters as saying he was “surprised and disappointed” that the union had chosen to strike. CNN has reached out to Mack Trucks for comment. Mack Trucks is one of the major US makers of heavy duty and medium duty trucks, with deliveries of 27,000 in 2022 and 16,000 for the first half of 2023. Rejecting dealsIt has become more common in recent years for rank-and-file union members to vote down tentative labor agreements reached by their union leadership.

Persons: Mack Trucks, “ I’m, Mack, Shawn Fain, Stephen Roy, ”, China’s Geely, Fain, Joe Biden, John Deere Organizations: New, New York CNN, United Auto Workers, UAW, Twitter, Reuters, International UAW, UAW Mack Truck Council, CNN, Sweden’s Volvo Group, Volvo, Big Three, —, Motors, Ford, Jeep, Dodge, Chrysler, FedEx, Mack, Cornell University School of Industrial and Labor Relations, Kaiser Permanente Locations: New York

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