Ford, partners pick Canada for $900 million battery materials plant
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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 (F) and partners to build $887M battery facility in Quebec
August 17, 2023 1:44 PM EDTFord (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
