The recall of more than 2 million vehicles comes after a two-year investigation by the National Highway Traffic Safety Administration into a series of crashes that happened while the Autopilot partially automated driving system was in use. Some were deadly.
CEO Officer Jim Farley said the robust EV demand the company expected hasn’t materialized because potential buyers are balking at high prices and spotty charging infrastructure.
The EPA says it is not imposing an EV mandate, but Republicans say the plan favors EVs and punishes gas engines, forcing Americans into cars and trucks they can’t afford.
Plans outlined by the departments of Treasury and Energy would limit electric vehicle buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States.
Additional labor costs from the agreement will total $8.8 billion by the end of the contract, translating to about $900 per vehicle by 2028, Ford Chief Financial Officer John Lawler said in a company release.
The UAW unveiled a website where workers at 13 different companies can electronically sign union authorization cards in a first step toward attempting to organize their factories.
The company said it expects to absorb increased labor costs and have enough left to buy back stock worth nearly one quarter of the company’s $44 billion market value.
The survey found that electric vehicles from the 2021 through 2023 model years encountered nearly 80% more problems than did vehicles propelled by internal combustion engines.
A group of 3,700 auto dealers is calling on the Biden administration to pull back on federal regulations that will mandate that two out of every three vehicles sold in the United States in 2032 will be battery electric.
With the deals set to be approved, workers at Ford and Stellatis will join counterparts at General Motors in ratifying the record contracts, ending a contentious labor dispute that brought a punishing series of strikes over six weeks.
The outcome was closer than expected after the UAW’s celebrations of victories last month on many key demands that led to six weeks of targeted walkouts against GM, Ford and Stellantis.
The outcome of the GM vote is uncertain, despite the UAW’s celebrations of victories last month on many key demands that led to six weeks of targeted walkouts against GM, Ford and Stellantis.
The Energy Department estimates demand for lithium batteries will increase up to 10 times by 2030.
The automaker, formed in the 2021 merger of Fiat Chrysler and PSA Peugeot of France, said it is taking the action “to protect our operations and the company.”
Employees at Honda’s Indiana Auto Plant in Greensburg are among those who will qualify for raises.
Stellantis, which has been slow to introduce fully electric vehicles in the U.S., is so confident in the new powertrain’s appeal that it plans to offer it in other vehicles.
The agreements provide a blueprint for which vehicles Stellantis, Ford and General Motors intend to build in the coming years and where they will do so.
Subaru of Indiana Automotive is the only Subaru manufacturing facility outside Japan, and it accounts for about half of all Subaru vehicles sold in North America.
Local union leaders from across the country at Jeep maker Stellantis voted unanimously on Thursday to send the contract to members for a vote. General Motors local leaders will meet on Friday.
General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.
