Ford is laying off about 3,000 US, Canadian, and Indian workers, with a significant number coming from Michigan. About two-thirds will be salaried, while the remaining will be contract workers. Farley says the company needs to redeploy resources and address its cost structure to be competitive. It is unclear if July's rumored 8,000 layoffs were overblown or just beginning.
Renault and Stellantis plants in France will resume normal production following the annual summer break. Both companies were hindered by chip shortages at the end of summer 2021, but expect a strong return to normal this year. However, reports still say pre-pandemic levels will remain out of reach until the end of 2023.
Hyundai knows how to beat the "assembled in North America only" tax credit rule - finish their US EV and battery plant, like, really fast, yall! Initially, the company planned to break ground on its Georgia plant in early 2023, with production beginning in 2025. Now that the Inflation Reduction Act has become law, Hyundai plans to break ground this year to begin producing the new factory's 300k annual units by 2024