Corporate/Finance: Page 19

  • UAW President Shawn Fain greets union members at a rally in Chicago, Illinois.
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    Jim Vondruska via Getty Images
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    Ford, UAW reach tentative agreement to end strike

    General Motors and Stellantis autoworkers could also receive significant raises if the union pressures them to meet or exceed Ford’s latest offer to raise top wages by more than 30% over the next four years.

    By • Oct. 26, 2023
  • United Auto Workers members attend a rally.
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    Jim Vondruska/Stringer/Getty Images North America via Getty Images
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    GM, Stellantis furlough another 660 workers due to UAW strike

    Stellantis furloughed 525 autoworkers at two stamping plants that provide parts for the Ram 1500. General Motors furloughed 139 workers at a stamping plant that makes parts for its full-size SUVs.

    By • Oct. 25, 2023
  • A white General Motors Bolt electric vehicle with a red "Cruise" logo is crossing an intersection in downtown San Francisco, with a street of parked cars and businesses behind it.
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    Courtesy of Cruise
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    California suspends Cruise robotaxis for misrepresenting safety

    The General Motors subsidiary withheld portions of a video showing a recent incident that left a pedestrian severely injured, the state DMV said.

    By Dan Zukowski • Oct. 25, 2023
  • New cars parked at a dealership.
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    Bilanol/iStock/Getty Images Plus via Getty Images
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    New cars are more affordable for the first time since 2019

    After peaking in December, the average monthly payment declined 0.8% in September from the month prior, Cox Automotive and Moody Analytics said.

    By • Oct. 25, 2023
  • In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022 in Fremont, California.
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    Justin Sullivan via Getty Images
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    Tesla confirms DOJ investigation over inflated driving range estimates

    The U.S. Department of Justice is also investigating allegations that the automaker improperly used company funds for CEO Elon Musk’s secret house project, according to a regulatory filing.

    By • Oct. 25, 2023
  • A press photo a blue Chevy Silverado EV RST electric pickup truck.
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    Courtesy of General Motors
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    GM abandons plan to build 400,000 EVs by mid-2024

    The automaker blamed lower demand for its decision to curb its EV production goals. GM’s EV production climbed 40% from Q2 to Q3, while EV sales grew 28%.

    By • Oct. 24, 2023
  • A 2023 Chevrolet Tahoe driving.
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    Courtesy of General Motors
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    GM assembly plant in Texas shuts down after 5,000 UAW members strike

    The strike at GM’s largest and most profitable plant stopped production of the automaker’s full-size SUVs.

    By • Oct. 24, 2023
  • A person pumping gas .
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    adamkaz/E+ via Getty Images
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    Automakers slam Biden administration’s 58 mpg fuel economy standard

    General Motors, Ford and Stellantis could pay $10.5 billion in fines if the National Highway Traffic Safety Administration finalizes its recommendations, the American Automotive Policy Council said.

    By • Oct. 20, 2023
  • The American Battery Technology Company facility in McCarran, Nevada, with a parking lot at the front, and a road next to the facility under the sun. Snow-covered mountains are in the background.
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    Courtesy of American Battery Technology Company.

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    American Battery Technology Company opens battery recycling plant

    The Nevada plant will process up to 20,000 tons of battery feedstock annually into materials like copper, aluminum and steel.

    By • Oct. 19, 2023
  • An exterior view of a Tesla showroom.
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    Courtesy of Tesla Inc.
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    Tesla’s profits decline 44% in Q3 thanks to aggressive price cuts

    The automaker doesn’t expect the upcoming launch of the Cybertruck to boost the company’s revenue anytime soon.

    By • Oct. 19, 2023
  • Ford F-Series SuperDuty pickup trucks.
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    Courtesy of Ford Motor Co.
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    Ford temporarily lays off 150 more workers at Sterling Axle Plant

    The automaker blamed the United Auto Workers strike at its Kentucky Truck Plant for the furloughs.

    By • Oct. 19, 2023
  • A gray and jungle green building surrounded by green landscape with ray of a sunrise shining over the area.
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    Courtesy of the BMW Group.

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    BMW secures new battery material supplier in Canada

    A new partnership with Umicore and added South Carolina production are scaling the automaker's EV supply chain strategy.

    By • Oct. 19, 2023
  • Two autoworkers look at each other with "UAW on Strike" signs in their hands and plastered on makeshift tents.
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    Scott Olson via Getty Images
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    Stellantis says it’s pulling out of CES due to UAW strike

    The automaker said the move aims to reduce the company’s expenses as it deals with the financial effects of the ongoing United Auto Workers strike.

    By • Oct. 18, 2023
  • Stellantis employees assembling doors.
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    Retrieved from Stellantis on October 18, 2023
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    Stellantis has until Oct. 29 to strike a deal with autoworkers in Canada

    Unifor, a union representing more than 8,200 Stellantis workers, is also negotiating for future product commitments at its Brampton Assembly plant related to the electric vehicle transition.

    By • Oct. 18, 2023
  • Ford chief operating officer Kumar Galhotra speaks at an a event in 2019.
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    Courtesy of Ford Motor Co.
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    Ford appoints Kumar Galhotra as chief operating officer

    The automaker continues to shuffle its leadership as it implements its Ford+ plan and deals with the ongoing United Auto Workers strike.

    By • Oct. 18, 2023
  • Workers assemble a Ford F-150 Lightning at the company's Rouge Electric Vehicle Center in Michigan.
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    Courtesy of Ford Motor Co.
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    Ford furloughs 700 autoworkers at F-150 Lightning plant, 106 more at Sterling Axle

    Ford curbed F-150 Lightning production due to supply chain disruptions and delivery delays unrelated to the United Auto Workers strike. It also furloughed more workers due to the strike.

    By • Oct. 17, 2023
  • A rendering of an Electric Era charger charging a vehicle.
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    Permission granted by Electric Era
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    Opinion

    As EV cyber risks rise, careful procurement planning can prevent headaches

    Unsecured electric vehicle charging stations may introduce malicious software to EVs, creating cybersecurity and liability risks for companies building their own charging networks.

    By Arjun Ramadevanahalli • Oct. 13, 2023
  • The 2023 North American International Detroit Auto Show.
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    Courtesy of North American International Detroit Auto Show
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    Top automotive industry conferences in 2024

    Upcoming events will touch on electric vehicles, autonomous vehicles, software-defined vehicles, supply chain management and more.

    By • Updated Oct. 12, 2023
  • Two employees at Ford's Kentucky Truck Plant work on a frame of a F-Series Super Duty pickup.
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    Courtesy of Ford Motor Co.
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    8,700 UAW members strike Ford truck plant in Kentucky

    The strike shut down a plant generating $25 billion in annual revenue. It makes some of the automaker's most profitable vehicles, such as Ford F-250–F-550 Super Duty Trucks.

    By • Oct. 12, 2023
  • The BMW i4 M50.
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    Courtesy of BMW
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    BMW, Mercedes-Benz EV sales jump in Q3, as Tesla loses market share

    BMW Group’s electric vehicle sales shot up 79.6% in Q3, while Mercedes-Benz saw its EV sales climb 66%.

    By • Oct. 12, 2023
  • An EV lithium-ion battery module inside a white metal enclosure laying on a dark blue-gray ground.
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    Black_Kira for iStock via Getty Images
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    Stellantis, Samsung SDI to build $3.2B EV battery factory in Indiana

    The site will be the manufacturers’ second joint StarPlus Energy facility in Kokomo.

    By • Oct. 11, 2023
  • Headshots of two people in suits side-by-side.
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    Courtesy of Nissan.

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    Nissan names new manufacturing leaders at Mississippi, Tennessee plants

    Company veterans David Sliger and Victor Taylor are taking on new roles as the automaker pushes to grow its U.S. electric vehicle manufacturing capacity.

    By • Oct. 11, 2023
  • Autoworkers assemble powertrain components.
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    Retrieved from General Motors Canada on October 10, 2023
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    Unifor ends strike against GM after reaching tentative labor deal in Canada

    Nearly 4,300 autoworkers will return to work after ending a strike that lasted less than one day.

    By • Oct. 10, 2023
  • The Toyota bZ4X electric SUV parked in a driveway.
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    Courtesy of Toyota Motor Corp
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    LG Energy Solution invests $3B in US battery manufacturing expansion

    The extra capacity will help the battery maker supply Toyota with lithium batteries in a new supply deal. 

    By • Oct. 10, 2023
  • A GMC pickup truck on display outside a General Motors dealership in Austin, Texas.
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    Brandon Bell via Getty Images
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    GM most vulnerable to UAW strike: Cox Automotive

    The Ford Explorer SUV had the highest inventory of any of the top 30 selling models, but the ongoing UAW strike has left GM with under a 30-day supply of some profitable Chevrolet and Cadillac models.

    By • Oct. 10, 2023