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On Monday, the UAW labor union ended its strike against Ford, GM, and Stellantis. All Big Three automakers can expect their labor costs to rise going forward.
Stellantis N.V. (NYSE:STLA ) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants Ed Ditmire - Head, Investor Relations Natalie Knight - Chief Financial Officer Conference Call Participants George Galliers - Goldman Sachs Michael Jacks - Bank of America Daniel Roeska - Bernstein Research José Asumendi - J.P.
Fain plans to use record contracts recently won with GM, Ford and Stellantis to assist in the union's embattled organizing efforts elsewhere.
The largest investments under the deal include $1.5 billion each for Belvidere Assembly in Illinois, a Dodge-Jeep plant in Detroit and a Jeep complex in Ohio.
Leaders of the United Auto Workers union on Thursday agreed to send a tentative contract agreement with Chrysler-parent Stellantis to members for a ratification vote, a source told Reuters.
Unifor, the Canadian labor union representing over 8,200 workers, announced a tentative agreement with Stellantis on Monday, bringing an end to a short-lived strike at the automaker's facilities. The strike had commenced after the two parties failed to reach a deal by a Sunday deadline, but continued negotiations led to a resolution.
The tentative deal is the result of contentious negotiations, which saw thousands of union members walk out of plants and onto picket lines.
Top United Auto Workers are close to a tentative agreement with Stellantis and will outline to local union officials on Saturday terms including reopening the automaker's Illinois assembly plant, two people familiar with the matter said.
Nov. 10 is a good guess on when the 2023 UAW-Detroit Three auto maker strike will end.
Chrysler parent company Stellantis (STLA) said it plans to spend 1.5 billion euros ($1.6 billion) to acquire a roughly 20% stake in Chinese electric vehicle startup Leapmotor, in a move that could help the Big Three automaker expand its presence in China.