Corporate/Finance: Page 20

  • Autoworker inspecting a vehicle.
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    Retrieved from General Motors on October 10, 2023
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    GM, Ford, Stellantis furlough 800 more workers due to UAW strike

    While more than half of the temporary layoffs came from Stellantis, 300 employees from its Kokomo Transmission and Kokomo Casting Plant returned to work Monday after being laid off in September.

    By • Oct. 10, 2023
  • Autoworkers assembling a powertrain.
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    Retrieved from General Motors Canada on October 10, 2023
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    Nearly 4,300 autoworkers strike against GM in Canada

    The strike shut down operations at three General Motors facilities in Ontario, Canada.

    By • Oct. 10, 2023
  • Ford's Chicago Assembly Plant Builds Explorers, Police Interceptors, And Lincoln Aviators
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    Scott Olson via Getty Images
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    How the UAW strike is impacting supplier operations

    The strike has caused some down-tier suppliers to hold inventory, while others may see cash flow delays.

    By • Oct. 9, 2023
  • Chris Brownridge, the new Rolls-Royce CEO.
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    Permission granted by Rolls-Royce Motor Cars
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    Rolls-Royce CEO to retire next month

    Chris Brownridge, the automaker’s new CEO, will implement Rolls-Royce’s plan to sell electric vehicles exclusively by 2030.

    By • Oct. 9, 2023
  • United Auto Workers President Shawn Fain speaking during a livestream event.
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    United Auto Workers. (2023). "UAW President Shawn Fain Livestream Update 10/6/23" [Video screenshot]. Retrieved from YouTube.
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    GM to cover EV battery plants under UAW master agreement, Fain says

    The United Auto Workers union had threatened to strike the automaker’s Arlington Assembly plant in Texas shortly before General Motors agreed to the concessions.

    By • Oct. 6, 2023
  • A car salesperson shaking hands with a customer.
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    skynesher/E+ via Getty Images
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    Are EV tax credits too hard to use? The Biden administration thinks so.

    In January, car shoppers will be able to transfer their clean vehicle tax credits to dealers to lower the purchase price of electrified vehicles.

    By • Oct. 6, 2023
  • United Auto Workers members picketing.
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    Bill Pugliano/Stringer/Getty Images News via Getty Images
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    Nearly a third of suppliers have laid off workers due to UAW strike

    More than 60% of suppliers plan to lay off workers by mid-October, according to a new survey.

    By • Oct. 6, 2023
  • 2020 Lincoln Aviator.
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    Courtesy of Ford Motor Co.
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    Ford temporarily lays off 400 employees, points finger at UAW strike

    The automaker furloughed 350 of the 2,703 employees at the Livonia Transmission Plant and 50 of the 2,171 employees at the Sterling Axle Plant.

    By • Oct. 5, 2023
  • The Tesla gigafactory in Nevada.
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    Courtesy of Tesla
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    Nevada is an EV battery gold mine

    Home to one of the country’s largest active lithium deposits, the state is becoming a hot spot for EV and battery manufacturing.

    By Sakshi Udavant • Oct. 5, 2023
  • A Chevy Volt goes through an assembly line as sparks fly and robotic arms work to build it.
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    Bill Pugliano via Getty Images
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    Manufacturing remains in a trough, but signs of relief are showing: PMI

    Companies are shifting from layoffs to attrition and hiring freezes to manage headcount, as companies note greater optimism for future growth in the industry.

    By • Oct. 4, 2023
  • Rivian R1S SUVs on an assembly line.
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    Courtesy of Rivian Automotive
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    Rivian deliveries up 23% in Q3

    The automaker exceeded analysts' expectations, delivering 15,564 vehicles in Q3, up from 12,640 vehicles in Q2.

    By • Oct. 3, 2023
  • 2023 Ford Explorer.
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    Courtesy of Ford Motor Co.
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    Ford temporarily lays off 330 more workers due to UAW strike

    The automaker furloughed 243 workers at the Chicago Stamping Plant and 90 workers at the Lima Engine Plant, a Ford spokesperson said.

    By • Oct. 3, 2023
  • Parking lot full of Tesla Model Y SUVs.
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    Courtesy of Tesla Inc.
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    Tesla misses Q3 delivery expectations

    Factory upgrades this summer slowed vehicle production, the electric automaker said.

    By • Oct. 2, 2023
  • 2023 Volkswagen ID.4
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    Courtesy of Volkswagen
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    EVs could reach 86% of global vehicle sales by 2030

    Although electric vehicles took roughly six years to get from 1% to 10% of global market share, it will take just six more years to reach 80% adoption, an RMI report says.

    By • Oct. 2, 2023
  • Cars release exhaust fumes.
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    milehightraveler/E+ via Getty Images
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    Suppliers say automakers must balance sustainability with safety, costs

    Greater standardization of targets and measures would help the automotive industry reach net-zero emissions globally by 2050, a Center for Automotive Research report says.

    By • Oct. 2, 2023
  • A rendering of Northvolt's upcoming battery factory near Montreal, Canada.
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    Courtesy of Northvolt
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    Northvolt to build $5B battery factory in Canada

    The Montreal plant will be the Swedish battery maker's first manufacturing site outside of Europe.

    By • Oct. 2, 2023
  • Honda Keep Dreaming campaign
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    Courtesy of Honda
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    Honda dreams of net zero emissions with first all-electric SUV campaign

    “Keep Dreaming” introduces the 2024 Prologue and showcases the company’s history of innovation and commitment to global carbon neutrality.

    By Chris Kelly • Oct. 2, 2023
  • Hyundai Motor America Evolve+.
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    Permission granted by Hyundai Motor America
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    Vehicle subscriptions could speed EV adoption, Deloitte says

    Bundled services could help automakers make cars more affordable for consumers, a Deloitte report says.

    By • Sept. 27, 2023
  • Aerial view of the planned Scout Motors EV plant in Blythewood, South Carolina.
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    Courtesy of Scout Motors
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    EV, semiconductor manufacturing projects delayed by labor, permitting issues

    Teams have hit pause on Scout Motors’ $2 billion EV plant in South Carolina and American Battery Factory’s $1.2 billion facility in Arizona.

    By Sebastian Obando • Sept. 26, 2023
  • An autoworker assembling an engine at General Motors' St. Catharines Propulsion Plant in St. Catharines, Ontario, Canada.
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    Retrieved from General Motors Canada on September 26, 2023
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    GM is the next target for autoworkers in Canada

    “Our expectation is that General Motors will follow the pattern set at Ford,” Unifor National President Lana Payne said in a YouTube video.

    By • Sept. 26, 2023
  • Ford Oakville Assembly Plant.
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    Courtesy of Ford
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    Ford, Unifor approve 3-year labor agreement for autoworkers in Canada

    Hourly production workers employed by Ford of Canada will now earn 35% more than similar Ford employees in the U.S., Unifor said.

    By • Sept. 25, 2023
  • Toledo Assembly Complex.
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    Courtesy of Stellantis
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    UAW strike expands to 38 more GM, Stellantis plants in 20 states

    “We will shut down parts distribution until those two companies come to their senses and come to the table with a serious offer,” the UAW said in a statement.

    By • Sept. 22, 2023
  • A worker on the assembly line at Ford's Michigan Assembly Plant.
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    Courtesy of Ford Motor Co.
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    Ford, UAW making ‘significant progress’ in labor negotiations

    The automaker agreed to several key demands, the United Auto Workers union said Friday, noting that it will not strike additional Ford plants.

    By , • Sept. 22, 2023
  • A group of workers at the Redux Recycling facility pose for a picture.
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    Courtesy of Redwood Materials
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    Redwood Materials acquires leading EU battery recycler Redux Recycling

    The move comes after the European Council passed new battery regulations this summer, including lithium recovery targets and recycled content minimums.

    By • Sept. 21, 2023
  • Machinery inside the Stellantis Toledo Machining Plant in Ohio.
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    Courtesy of Stellantis
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    Stellantis lays off 68 workers in Ohio, may furlough hundreds more

    It’s the first layoffs announced by Stellantis since the strike began last Friday.

    By • Sept. 21, 2023