Corporate/Finance: Page 3

  • 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 Sara Samora • 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 Sara Samora • 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 Kate Magill • 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
  • 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 Kelly Stroh • 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 Kate Magill • 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