Just the Deets

UAW’s plans, Nissan’s friends, Maine’s mechanics, Polestar’s adjustments, and America’s relationship with EVs. 🇺🇸
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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.

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