NHTSA probes 2022 Ford (F) Mach-E recall as problems persist

Ford (F) workers in Louisville vote 'yes' to authorize strike

August 23, 2023 1:41 PM EDT

Ford (NYSE: F) United Auto Workers (UAW) Local 862 union, led by veteran labor leader Todd Dunn in Louisville Kentucky, voted overwhelmingly this week to grant union leaders the right to call a strike if contracts expire before a new deal is in place.

Dunn, who is in his 13th year... More

Texas EV owners prepare as additional fees kick in Sep. 1st

August 22, 2023 2:30 PM EDT

Texas electric vehicle owners are preparing for a rule change after state lawmakers approved a $200 annual fee added to their EVs registration charges.

Earlier this year, Texas lawmakers gave the green light to a fee that applies to all electric cars and trucks in the state. This fee, including a $400 charge for first-time registration, aims to fix what legislators pointed out as an... More

Stellantis (STLA) AEG report shows a union strike could cost the U.S. auto industry $5.5B

August 21, 2023 3:11 PM EDT

Anderson 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

US auto safety agency probes 2022 Ford Mach-E EV recall

August 21, 2023 8:03 AM EDT

By David Shepardson

(Reuters) -U.S. auto safety regulators said on Monday that they are investigating whether Ford Motor's 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns and whether it should be expanded to more vehicles.

Ford issued the June 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of propulsion power, increasing the risk of a crash.

... More

VinFast slumps for third straight day after eye-popping market debut

August 18, 2023 11:22 AM EDT

Investing.com -- VinFast Auto (NASDAQ: VFS) shares tumbled for a third straight session in early U.S. trading on Friday, representing another step down from an eye-popping surge in the Vietnamese electric vehicle maker's stock after its debut on the Nasdaq on Tuesday.

By 10:41 ET (14:41 GMT), shares in VinFast had fallen by 22.15% to $15.57.

At one point this week, VinFast had... More

Ford Motor (F) option IV steady on more calls than puts amid union contract headlines

August 17, 2023 2:03 PM EDT

Ford Motor (NYSE: F) 30-day option implied volatility is at 34; compared to its 52-week range of 27 to 588 into their current union contracts end on September 14. Call put ratio 2.3 calls to 1 put.

... More

Ford (F) and partners to build $887M battery facility in Quebec

August 17, 2023 1:44 PM EDT

Ford (NYSE: F), alongside a consortium of South Korean companies, announced Thursday that the group would build a C$1.2 billion ($887 million) facility capable of producing electric vehicle battery materials in Becancour, Quebec.

According to Canada's industry ministry, the small 15,000 person town of Becancour on... More

UAW leader says Detroit Three automakers 'still not serious' in contract talks

August 17, 2023 1:08 PM EDT

By Joseph White

DETROIT (Reuters) -United Auto Workers President Shawn Fain told Reuters the Detroit Three automakers are "still not serious" in their responses so far to the union's economic proposals, and said Sept. 14 is a firm deadline for all three companies to conclude new contracts.

"Things have been moving slow," Fain said in an interview. He did not rule out strikes at General Motors, Ford and Stellantis North America if the deadline is missed.

"Everyone's deadline is the same," Fain said. "It's imperative all three companies come to the table."

Fain has outlined an... More

Ford, partners pick Canada for $900 million battery materials plant

August 17, 2023 10:32 AM EDT

By 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