We have some catching up to do this Monday as we summarize UAW strike developments from the weekend. We also cover Toyota's Chairman comments on EV market's realities as well as Amazon's new "Consult-a-Friend" feature.
Two down, one to go. On Saturday UAW announced a tentative agreement with Stellantis which mirrors the deal with Ford and promises the revival of an Illinois assembly plant closed earlier this year, restoring 1,200 jobs.
“On Day 44 of our Stand Up Strike, I am honored to announce that our union is again victorious. Once again, we’ve achieved just weeks ago what we were told was impossible,” - Shawn Fain, UAW President.The Ford deal promises a 25% pay hike over four years, the reintroduction of cost-of-living adjustments, and assures top-tier salaries to newcomers post their initial three years. Stellantis echoed the 25% salary increment, has consented to restart its dormant Belvidere Assembly facility, and has pledged to direct $19 billion towards fresh U.S. ventures"We look forward to welcoming our 43,000 employees back to work and resuming operations," Stellantis said on Saturday.The strike against GM has been expanded, targeting the Spring Hill, Tennessee, engine plant. With a similar wage offer as Ford and Stellantis on the table, the primary negotiation challenges with GM revolve around retirement benefits and matters concerning temporary workersFourteen year CEO and current Toyota Chairman, Akio Toyoda said "There are many ways to climb the mountain that is achieving carbon neutrality," at the Japan Auto Show as he emphasized that EVs they might not be the sole solution to carbon emissions as the auto industry once believed
Toyota has consistently championed the potential of hybrid gasoline-electric cars as a bridging technology as a major lull in EV demand takes hold of the marketThe Big 3 are pulling back in big ways, and GM and Honda recently dissolved an EV partnershipMeanwhile, Toyota says it is very close to a breakthrough in solid state battery technology which will allow them to produce batteries that get 700-1000 miles of range on a similar size battery that is currently being produced.Amazon’s new integration with their shopping app dives deeper into social shopping with its latest feature, "Consult-a-Friend" that lets users request and manage feedback from friends and family directly in the app
Surveys have consistently shown the power of personal recommendations, with a recent study finding 34% of Gen Z adults trust family recommendations, followed by 31% trusting friends.Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion