Corporate/Finance: Page 13


  • Employees assemble Chevrolet Bolt EUVs.
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    Retrieved from General Motors on November 06, 2023
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    GM to invest another $2B in EVs under UAW deal

    The additional funds are part of the automaker’s plans to invest more than $13 billion in electric and internal combustion vehicle production in the U.S.

    By Nov. 6, 2023
  • A worker at Toyota Motor Manufacturing, Kentucky inspects a vehicle on the assembly line.
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    Courtesy of Toyota Motor Corp
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    UAW takes aim at Toyota after historic agreements with the Big Three

    The union plans to use its new agreements with the Big Three to court non-unionized autoworkers, including those working for Toyota.

    By Nov. 3, 2023
  • EAM-North-Carolina-facility
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    Courtesy of Epsilon Advanced Materials
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    Epsilon Advanced Materials to build $650M graphite anode facility in North Carolina

    The plant will start producing high-capacity anode materials in 2026 and use green technologies to make enough materials to power 1.10 million electric vehicles by 2030.

    By Joelle Anselmo • Nov. 3, 2023
  • The Genesis X Convertible EV Concept from Hyundai.
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    Courtesy of Hyundai Motor Group
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    Hyundai reorganizes design units and names new chief design officer

    Hyundai, Kia and Genesis will retain separate design leadership to ensure product differentiation among the brands.

    By Nov. 2, 2023
  • A silver 2024 Ram 1500 pickup
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    Courtesy of Stellantis
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    Stellantis lost $3.2B to UAW strike

    The automaker said the strike reduced vehicle shipments by 50,000 units in September and October, which led to the revenue drop.

    By Nov. 1, 2023
  • A stop sign in front of a Tesla factory.
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    Sean Gallup/Staff/Getty Images Europe via Getty Images
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    Tesla wins lawsuit over deadly Autopilot crash

    A jury found the system had no manufacturing defect but did not consider whether it had a design defect.

    By Nov. 1, 2023
  • United Auto Workers members rally.
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    Jim Vondruska/Stringer/Getty Images North America via Getty Images
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    UAW wins big concessions from Big Three. Are foreign automakers next?

    If the United Auto Workers organize nonunion companies like Tesla and Toyota, it would create a more even playing field for General Motors, Ford and Stellantis, one expert said.

    By Kalena Thomhave • Oct. 31, 2023
  • A white building surrounded by dirt and construction.
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    Courtesy of Toyota.

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    Toyota to expand North Carolina EV battery plant with $8B investment

    The latest investment will create nearly 3,000 more jobs and increase capacity to support the automaker’s EV models.

    By Sara Samora • Oct. 31, 2023
  • A Stellantis employee assembles a Chrysler Pacifica Hybrid.
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    Retrieved from Stellantis North America on October 30, 2023
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    Stellantis, Unifor reach tentative agreement, ending autoworkers strike in Canada

    The automaker agreed to largely the same terms as Ford Motor Co. and General Motors, raising base wages 20% for production workers and 25% for skilled trades.

    By Oct. 30, 2023
  • Ford started resuming production and operations in the United States today. The company has implemented robust safety and care measures globally to help support a safe and healthy environment for the
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    Courtesy of Ford
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    The Ford-UAW deal features $8B in plant upgrades. Here’s where the money’s going.

    The investments will include the introduction of new EV models at four facilities.

    By Kate Magill • Oct. 30, 2023
  • Fiat Chrysler Automobiles (FCA) Belvidere Assembly Plant
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    Scott Olson via Getty Images
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    UAW ends strike against Stellantis, hits GM with surprise 4,000 worker strike

    The Stellantis deal is similar to the United Auto Workers agreement with Ford Motor Co., raising autoworkers’ base wages 25% over four-and-a-half years.

    By Oct. 28, 2023
  • The front grill of a red, 2024 Ford F150 pickup.
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    Courtesy of Ford Motor Co.
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    Ford lost $1.3B due to the UAW strike, zapping its Q3 profits

    The strike canceled the production of 80,000 vehicles and cost Ford $850 to $900 per vehicle.

    By Oct. 27, 2023
  • A Chevrolet Cruise autonomous vehicle with a driver moves through an intersection on June 08, 2023 in San Francisco, California.
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    Justin Sullivan via Getty Images
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    Cruise recalls driverless robotaxis after halting operations in 3 cities

    The General Motors subsidiary is grappling with two federal investigations and a recent incident in which one of its cars left a pedestrian seriously injured.

    By Dan Zukowski • Updated Nov. 8, 2023
  • Ford F-Series SuperDuty pickup trucks.
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    Courtesy of Ford Motor Co.
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    Ford delays construction on second Kentucky battery plant

    The automaker is also delaying $12 billion in electric vehicle investments a month after it paused construction on its Michigan EV factory.

    By Kate Magill • Oct. 27, 2023
  • Stellantis CEO Carlos Tavares shakes hands with Leapmotor CEO Zhu Jiangming behind a table at a strategic cooperation signing ceremony.
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    Courtesy of Stellantis
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    Stellantis invests $1.6B in China-based EV startup Leapmotor

    The investment gives Stellantis a 20% stake in the electric vehicle maker and provides access to the world’s largest EV and hybrid market, which nearly doubled in size last year. 

    By Oct. 27, 2023
  • UAW President Shawn Fain greets union members at a rally in Chicago, Illinois.
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    Jim Vondruska via Getty Images
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    Ford, UAW reach tentative agreement to end strike

    General Motors and Stellantis autoworkers could also receive significant raises if the union pressures them to meet or exceed Ford’s latest offer to raise top wages by more than 30% over the next four years.

    By Oct. 26, 2023
  • United Auto Workers members attend a rally.
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    Jim Vondruska/Stringer/Getty Images North America via Getty Images
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    GM, Stellantis furlough another 660 workers due to UAW strike

    Stellantis furloughed 525 autoworkers at two stamping plants that provide parts for the Ram 1500. General Motors furloughed 139 workers at a stamping plant that makes parts for its full-size SUVs.

    By Oct. 25, 2023
  • A white General Motors Bolt electric vehicle with a red "Cruise" logo is crossing an intersection in downtown San Francisco, with a street of parked cars and businesses behind it.
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    Courtesy of Cruise
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    California suspends Cruise robotaxis for misrepresenting safety

    The General Motors subsidiary withheld portions of a video showing a recent incident that left a pedestrian severely injured, the state DMV said.

    By Dan Zukowski • Oct. 25, 2023
  • New cars parked at a dealership.
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    Bilanol/iStock/Getty Images Plus via Getty Images
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    New cars are more affordable for the first time since 2019

    After peaking in December, the average monthly payment declined 0.8% in September from the month prior, Cox Automotive and Moody Analytics said.

    By Oct. 25, 2023
  • In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022 in Fremont, California.
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    Justin Sullivan via Getty Images
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    Tesla confirms DOJ investigation over inflated driving range estimates

    The U.S. Department of Justice is also investigating allegations that the automaker improperly used company funds for CEO Elon Musk’s secret house project, according to a regulatory filing.

    By Oct. 25, 2023
  • A press photo a blue Chevy Silverado EV RST electric pickup truck.
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    Courtesy of General Motors
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    GM abandons plan to build 400,000 EVs by mid-2024

    The automaker blamed lower demand for its decision to curb its EV production goals. GM’s EV production climbed 40% from Q2 to Q3, while EV sales grew 28%.

    By Oct. 24, 2023
  • A 2023 Chevrolet Tahoe driving.
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    Courtesy of General Motors
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    GM assembly plant in Texas shuts down after 5,000 UAW members strike

    The strike at GM’s largest and most profitable plant stopped production of the automaker’s full-size SUVs.

    By Oct. 24, 2023
  • A person pumping gas .
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    adamkaz/E+ via Getty Images
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    Automakers slam Biden administration’s 58 mpg fuel economy standard

    General Motors, Ford and Stellantis could pay $10.5 billion in fines if the National Highway Traffic Safety Administration finalizes its recommendations, the American Automotive Policy Council said.

    By Oct. 20, 2023
  • The American Battery Technology Company facility in McCarran, Nevada, with a parking lot at the front, and a road next to the facility under the sun. Snow-covered mountains are in the background.
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    Courtesy of American Battery Technology Company.

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    American Battery Technology Company opens battery recycling plant

    The Nevada plant will process up to 20,000 tons of battery feedstock annually into materials like copper, aluminum and steel.

    By Joelle Anselmo • Oct. 19, 2023
  • An exterior view of a Tesla showroom.
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    Courtesy of Tesla Inc.
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    Tesla’s profits decline 44% in Q3 thanks to aggressive price cuts

    The automaker doesn’t expect the upcoming launch of the Cybertruck to boost the company’s revenue anytime soon.

    By Oct. 19, 2023