Ford (F) and partners to build $887M battery facility in Quebec
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Stellantis (STLA) AEG report shows a union strike could cost the U.S. auto industry $5.5B
August 21, 2023 3:11 PM EDTAnderson Economic Group (AEG) released a report late last week highlighting the potential economic impact of a 10-day auto union strike. According to the report, AEG estimates a strike on all three automakers by 143,000 United Auto Workers (UAW) members could result in a total economic loss of more than $5 billion after 10 full days.
The assessment adopts a holistic perspective, considering not only the impacts on workers and manufacturers, but also the potential repercussions on car dealers and parts suppliers that could result from a... More
NHTSA probes 2022 Ford (F) Mach-E recall as problems persist
August 21, 2023 10:19 AM EDTThe National Highway Traffic Safety Administration (NHTSA) revealed Monday that the safety regulator has opened an investigation into whether a 2022 Ford (NYSE: F) recall of 49,000 Ford Mustang Mach-E electric vehicles properly addressed safety concerns, and if the recall should be expanded.
Ford initiated a recall in June 2022 due to a potential issue with high voltage battery main contactors. These contactors have the potential to overheat as a result of DC fast-charging and repetitive wide-open pedal events. This overheating could lead to an abrupt loss of power for propulsion,... More
Ford, partners pick Canada for $900 million battery materials plant
August 17, 2023 10:32 AM EDTBy Steve Scherer
OTTAWA (Reuters) -A consortium of Ford Motor Co and South Korean companies on Thursday said they would build a C$1.2 billion ($887 million)plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec, a town seeking to become an EV-supply-chain hub, Canada's industry ministry said.
The consortium includes South Korean partners EcoProBM and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for Ford EVs.
Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for... More
VinFast shares slip after soaring in debut trading day
August 16, 2023 9:55 AM EDTInvesting.com -- Shares in VinFast Auto (NASDAQ: VFS) slumped sharply in early U.S. trading on Wednesday after the Vietnamese electric vehicle start-up's stock soared by 255% in their debut on the Nasdaq Global Select Market on Tuesday.
The firm, which went public via a merger with special-purpose acquisition company Black Spade, ended the prior session valued at... More
Target to report, VinFast's market debut - what's moving markets
August 16, 2023 6:09 AM EDTInvesting.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.
1. Futures rise after declines on Wall Street
U.S. stock... More
Target to report, VinFast's market debut - what's moving markets
August 16, 2023 6:09 AM EDTInvesting.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.
1. Futures rise after declines on Wall... More
UAW to hold a vote authorizing a strike as talks continue at slow pace
August 15, 2023 2:01 PM EDTUnion President Shawn Fain released a statement Tuesday indicating that negotiations with Detroit automakers continues to move at a snails pace and have yet to even address the issues surrounding wages and other economic issues.
The United Auto Workers union (UAW) boasts a membership of approximately 146,000 members who will vote next week on authorizing their leaders to call strikes against the Big Three. The unions contracts with General Motors (NYSE: GM), Ford (NYSE: F) and... More
Morgan Stanley remains Bullish as Ford (F) plans JV in China
August 15, 2023 8:42 AM EDTMorgan Stanley reiterated an Overweight rating on Ford Motor (NYSE: F) with a 12-month price target of $16.00 after documents released by China market regulators revealed that the automaker plans to setup a new-energy passenger car joint venture (JV) with state-owned Chongqing Changan Automobile.
According to this new JV, Changan Ford Motor will hold a... More
Ford Motor (F) option IV amid union contract talks
August 15, 2023 5:05 AM EDTFord Motor (NYSE: F) 30-day option implied volatility is at 30; compared to its 52-week range of 27 to 588 into their current union contracts end on September 14.
... More