Labor Disputes: Ford extended a new contract offer to the UAW, raising wages for temporary workers, increasing 401(k) contributions, and shortening the timeframe to the top wage rate. However, disagreements persist, especially over battery plants and the transition to electric vehicles.
🔍 EU Doesn't Trust All These Chinese EVs
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The European Commission is diving deep into Chinese electric vehicles, suspecting they might be riding the harmful subsidy wave. 🌊 Initiated thanks to a little nudge from the French government, this probe's potential to shuffle the EU-China trade deck. With Germany on its toes, fingers crossed 🤞, the Commission now waits for a word from the Chinese bigwigs. They've got 13 months to crack the case.
GM Q3 and Strike Update
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Sales: GM boasted a 21.4% sales boost in Q3. Approaching Q4, GM sales surged over 19%, translating to about 1.97 million vehicles sold in the U.S. Electric vehicle sales comprised over 20,000, a 28% quarterly increase.
Strike Impact: GM's Q3 sales were largely unaffected by the UAW strikes. However, the strikes have already hit the production of models like Chevrolet Colorado and GMC Canyon. GM has furloughed 163 UAW workers at its Toledo plant and laid off 2,100 workers across five plants.
Labor Disputes: GM is negotiating a new contract with the UAW. While discussions are ongoing, significant differences remain.
🔋One Step Closer To Battery Swapping
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India's oil mogul, Reliance Industries, just dropped a game-changer: swappable, multipurpose battery storage for EVs. 🚘 Swap 'em for your ride or light up your home – talk about multitasking! 💡 Part of their whopping $10 billion green drive, Reliance aims for those net-zero carbon vibes by 2035. Go green or go home! 🌱
