UAW Strike Finally Comes to an End

( – United Auto Workers (UAW) has reached a tentative agreement to end its strikes with General Motors (GM), Ford and Stellantis. The final agreement with GM came on Monday, October 30th and early reports indicate that the deal resembles the compromise made with Ford wherein union workers will be entitled to raises of 25%.

GM’s workers will also get benefits like a three-year progression plan for their wages, cost-of-living bonuses, and the removal of wage tiers across the union. Additionally, should workers want to transfer to plants that produce EVs, they can sign up for those jobs and will be reassigned as they become available over time.

Workers at GM’s Ultium Cell plant where they make batteries for EVs will see their hourly wages increased by 11%.

Ford and Stellantis also agreed to pump their base wages 25% through April 2028 and granted cost-of-living allowances.

More uncertain is the future of EVs in the wake of President Biden’s green agenda, and policies like California’s attempt to mandate all new cars are electric by 2030. Consumers haven’t yet bought EVs in large quantities, they’re still seen as a luxury with costs significantly higher than comparable gas-powered vehicles.

Multiple companies are delaying or ditching their efforts to rapidly transition to producing electric vehicles exclusively. A recent report from the Detroit Free Press highlighted the simple fact that consumers aren’t rushing to buy new electric cars in this economy.

GM, Tesla, Mercedes, and Ford have all significantly slowed or completely abandoned prior policy initiatives to convert rapidly. Ford paused construction on a $3.5 billion battery plant in Marshall, Michigan after residents and politicians were incensed about the heavy involvement of China’s CCP and a corporation under its control.

GM CEO Mary Barra informed investors that the company was no longer attempting to reach a prior stated goal of producing 400,000 EVs between 2022 and 2024. Tesla had a decrease in its revenue leading the company to delay production of a new factory in Mexico. Mercedes executives recently complained to Business Insider that they were heavily discounting EVs to sell them at all.

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