Just the Deets

President Joe Biden's Upcoming Meeting with UAW Head Shawn Fain

• Biden to spotlight labor achievements in Illinois, discussing contract agreements with Detroit's automakers post-strike.
• UAW's potential endorsement could boost Biden's 2024 election prospects.
• The UAW is setting its sights on non-unionized automakers for a big push.
• Key topics: Reopened Stellantis plant and a new battery factory.

Renault-Nissan Alliance's Strategic Shift

• Renault creates a trust for its Nissan shares, equalizing cross-shareholdings at 15%.
• Shift toward independent operations and Renault's focus on its EV division, Ampere.
• Nissan and Honda expect higher profits from strong sales and currency advantages.

Polestar's Revised Business Strategy

• Adjusted sales forecast for 2025, prioritizing profit margins and cost reduction.
• Aims for a high-teen gross profit margin, targeting 155,000-165,000 annual vehicle sales.
• The strategy includes a new joint venture in China and plans for $1.3 billion in funding until cash flow break-even.

Maine's Right-to-Repair Law: Impact on Dealerships

• The law ensures access to diagnostic systems for vehicle owners and local mechanics.
• Dealerships may face competition from independent shops.
• The change highlights a potential need for dealers to diversify services and adjust pricing strategies.

Electric Vehicle Sales Surge in the US

• Record 49.8% year-over-year increase in Q3 EV sales, exceeding 300,000.
• The market is on track to hit 1 million EV sales this year.
• General Motors remains confident in customer demand despite production goal delays.
• The industry faces challenges amid the roll out of EVs but shows resilient demand.