UAW accuses VW, Hyundai, and Honda of illegal union busting

Indonesia eases tax rules on EV imports in bid to attract investment

The Indonesian government released details of new regulations, signed December 8th, designed to attract investors looking to build electric vehicle (EV) plants in the country.

The new regulations will grant automakers that plan to build electric vehicle plants tax incentives on their imports of completely built EVs until 2025.

Under the plan, companies that have already invested in EV plants, intend to boost their EV investments, or have plans for future investments in this sector... More

HSBC cuts Ferrari (RACE) to Hold, upgrades Porsche on China exposure

HSBC Global Research downgraded Ferrari (NYSE: RACE) to a Hold rating (From Buy) and raised their 12-month price target on the luxury auto stock to $340.00 (From $325.00) as analysts believe consensus for 2024 appears stretched and the potential for an earnings surprise appears limited.

At the same time, HSBC upgraded rival luxury automaker, Porsche AG to a Buy rating (From Hold) and cut their 12-month price target on the stock to $100.00 (from $110.00) following the companys recent price correction.

During economic... More

Ford (F) to cut F-150 Lightning production by 50% in 2024

Automotive News reports Monday that Detroit automaker, Ford Motor (NYSE: F) has sent a memo to suppliers with plans to cut production on the companys F-150 Lightning electric pickup truck by half in 2024.

"Changing market demand," was the reasoning given for the steep pullback.

The announcement... More

General Motors (GM) GM and partners launch national EV fast-charging network

General Motors (NYSE: GM), in partnership with EVgo Inc. (NASDAQ: EVGO) and Pilot Travel Centers LLC, announced Monday, the opening of the first 17 sites for a nationwide electric vehicle (EV) fast charging network across the United States.

The locations of the charging stations can be found on GM's... More

Wells Fargo starts Stellantis (STLA) at Underweight ahead of industry headwinds

Wells Fargo initiated coverage on Stellantis (NYSE: STLA) with an underweight rating and a 12-month price target of 18.

We believe the market is likely underestimating the magnitude of the structural challenges that the industry faces over the next few years. Wrote Wells Fargo analysts in a note.

Key headwinds include... More

Wells Fargo Starts Stellantis NV (STLA:FP) (STLA) at Underweight, 'cautious view on the industry into 2024 and beyond'

(Updated - December 11, 2023 5:11 AM EST)

Wells Fargo analyst Colin Langan initiates coverage on Stellantis NV (STLA:FP) (NYSE: STLA) with a Underweight rating and a price target of EUR18.00.

The analyst comments "We initiate on STLA with an UW rating & 18... More

Stellantis NV (STLA:IM) (STLA) PT Raised to EUR24 at Morgan Stanley

Morgan Stanley raised its price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR24.00 (from EUR20.00) while maintaining a Overweight rating.... More

Stellantis (STLA) temporarily cuts shift at Jeep plant

Chrysler-parent, Stellantis (NYSE: STLA) announced its intention to temporarily reduce a shift at a Jeep factory in Detroit and make adjustments at another Jeep plant in Toledo, Ohio. These changes, according to the automaker, are expected to result in job cuts.

The car manufacturer, which holds ownership of Ram, Chrysler, Dodge, and Fiat brands, announced its intention to submit Worker Adjustment and Retraining Notification notices to the relevant... More

Bernstein Reiterates Outperform Rating on Stellantis NV (STLA:FP) (STLA)

Bernstein analyst Daniel Roeska reiterated an Outperform rating and EUR25.00 price target on Stellantis NV (STLA:FP) (NYSE: STLA).

U.S. House votes to pause Biden EV regulations

The Republican-led House of Representatives, on Wednesday, voted to prevent the Biden administration from implementing strict regulations on vehicle emissions, which aimed to have 67% of new vehicles powered by electricity by 2032.

"While EVs may play a large role in the future of the auto industry, Washington should not discount other technologies like... More

General Motors (GM) joins with Autocar Industries to build heavy-duty hydrogen vehicles

General Motors (NYSE: GM) and Autocar Industries announced Thursday that the two companys have agreed to collaborate on creating hydrogen-fueled heavy vehicles utilizing GM's fuel cell unit, Hydrotec.

These innovative vehicles, aiming for zero emissions, will replace conventional diesel-powered models like cement mixers, dump trucks, refuse trucks, road maintenance... More

Over 1,000 VW workers sign union cards in Tennessee

The United Auto Workers (UAW) union revealed Thursday that more than 1,000 Volkswagen factory workers at the automakers Chattanooga, Tennessee assembly plant have signed union authorization cards.

The news follows an announcement last week where the union said that they would launch a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. A push energized by record contract negotiations with the Detroit Three automakers.

The UAW said last week that when 30% of employees in a nonunionized facility sign cards expressing their... More

GM hydrogen unit to supply fuel cells for Autocar's heavy vehicles

By Nick Carey

(Reuters) - General Motors' and Autocar Industries have agreed to jointly develop hydrogen-powered heavy vehicles powered by the No.1 U.S. automaker's fuel cell unit Hydrotec, the two companies said on Thursday.

The first of the new zero-emission vehicles which are traditionally powered by diesel engines - such as cement mixers, dump trucks, refuse trucks, road maintenance vehicles and terminal tractors - are expected to go into production in 2026 at Autocar's... More

Ford and Resideo (REZI) Launch 'EV-Home Power Partnership' Project Driving Vehicle-to-Home Energy Management Benefits for Customers

Today, Ford and Resideo Technologies, Inc. (NYSE: REZI) announced a joint simulation project to explore vehicle-to-home (V2H) energy management called the "EV-Home Power Partnership," designed to explore the potential of electric vehicle batteries to support optimal home energy management. The project will explore, test and quantify the customer benefits of pairing bi-directional EV charging with a Resideo smart thermostat to help customers potentially save money on monthly electric bills, reduce strain... More