As noted in September 29's "Ford halts work on $3.5B EV battery factory with China's CATL":
China will make the cars.
From the AP via the Chicago Tribune:
Ford Motor Co. Executive Chairman Bill Ford called on autoworkers to come together to end a monthlong strike that he says could cost the company the ability to invest in the future.
In a rare speech during contract talks in the company’s hometown of Dearborn, Michigan, Ford said high labor costs could limit spending to develop new vehicles and invest in factories. “It’s the absolute lifeblood of our company. And if we lose it, we will lose to the competition. America loses. Many jobs will be lost,” said the great grandson of company founder Henry Ford.
The company, he said, builds more vehicles in America and has more United Auto Workers employees than any company, which has increased its costs in a highly competitive industry.
Ford has 57,000 UAW workers compared with 46,000 at GM and 43,000 at Stellantis. “Many of our competitors moved jobs to Mexico as we added jobs here in the U.S.,” Ford said....
....MUCH MORE
If interested see also:
"The world needs cheap electric cars. That spells trouble for big carmakers"
"The United Auto Workers are winning the battle, but have they already lost the war?"
"Stellantis warns of car market collapse if EVs don't get cheaper"
All is proceeding according to plan. You will own nothing and be happy."Stellantis unveils low-priced electric vehicles to rival Tesla" (STLA; TSLA)
In other words: "Hop on the bus, Gus," "Make a new plan, Stan...."(apologies to Paul Simon)
Stellantis by the way seems to be firing on all cylinders, errrr...cathodes and anodes.
(gonna need a new idiom)
And previously in our labor mini-series:
In Light Of The Auto Workers Strike: "The Next Economy The End of the Working Class"
"Powell’s Inflation Nightmare: Job Seekers, incl. the Employed, Suddenly Expect Massively Higher Wages in Job Offers"
I'm all for workers staying ahead of inflation (plus more) and I'm all for private sector unions—although like President Roosevelt* I think public sector unions should be outlawed—when you have a situation like the United Auto Workers demanding a reduction in the workweek from 40 to 32 hours and (Detroit News, August 3)...
....It was Samuel Gompers, labor leader extraordinaire, who rhetorically asked what labor wanted and answered "More"* but the math is the math and if the United Auto Workers get the 46% wage increase they are asking for it will raise prices.
