Ford to scale back plans for $3.5 billion Michigan battery plant as EV demand disappoints, labor costs rise

Ford scaling back plans for Michigan EV battery plant

Ford announced Tuesday it would resume construction on an elective vehicle (EV) plant in Michigan that was postponed by the United Auto Worker (UAW) strikes, but will scale back its plans. “While we remain bullish on our long-term strategy for ...

Nov. 21, 2023 - thehill.com - Just In News | The Hill

Ford Resumes Work on E.V. Battery Plant in Michigan, at Reduced Scale

A battery plant in Michigan will be smaller than planned, Ford said, citing slower E.V. demand than expected, as well as labor costs.

Nov. 21, 2023 - nytimes.com - NYT > Business

Ford to resume building EV battery plant delayed by strike, but scale it back

Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union

Nov. 21, 2023 - abcnews.go.com - ABC News: Top Stories

Ford Downsizes Plan for Michigan Battery Factory, Citing Slower EV Demand

The automaker restarts work on the plant, which will use tech from China’s CATL.

Nov. 21, 2023 - online.wsj.com - WSJ.com: World News

EV Battery Plant Rides Bumpy Road in This Michigan Town

Ford pauses and then scales back proposed facility backed by government funding and set to employ hundreds.

Dec. 2, 2023 - online.wsj.com - WSJ.com: World News

South Korean EV battery makers lay off workers and scale back investments in US

LG Energy Solution and SK On slowing their expansion in response to sluggish demand

Nov. 23, 2023 - ft.com - UK homepage - South Korea

Ford is moving forward on construction of a battery plant in Michigan but at a reduced size from original plans, citing a pullback in the outlook for future electric-vehicle demand.

Nov. 22, 2023 - online.wsj.com - WSJ.com: World News

GM Directs Billions to Investors as EV Push Disappoints

CEO Mary Barra is looking to dispel concerns about the health of GM’s core car-making business after setbacks in fledgling pursuits such as EVs.

Nov. 29, 2023 - online.wsj.com - WSJ.com: US Business

Nissan to Ramp Up EV, Battery Business in U.K. With Over $2 Billion Investment

Nissan Motor is expanding its electric vehicles and battery manufacturing capacity in the U.K. as the carmaker pushes to have an all-electric lineup in Europe.

Nov. 24, 2023 - online.wsj.com - WSJ.com: World News

Nissan to Ramp Up EV, Battery Business in U.K. With Over $3 Billion Investment

Nissan Motor is expanding its electric vehicles and battery manufacturing capacity in the U.K. as the carmaker pushes to have an all-electric lineup in Europe.

Nov. 24, 2023 - online.wsj.com - WSJ.com: US Business

Ford reinstates 2023 guidance, says UAW deal to cost $8.8 billion over life of the contract

Ford expects $10 billion to $10.5 billion in adjusted earnings before interest and taxes and adjusted free cash flow of between $5 billion and $5.5 billion.

Nov. 30, 2023 - cnbc.com - US Top News and Analysis

The UAW has secured worker backing for new labor contracts at Ford and Stellantis.

Nov. 18, 2023 - online.wsj.com - WSJ.com: World News

UAW Talks Near End With Ford, Stellantis Workers Backing Labor Deals

Workers support a new 4 ½ year pact that includes a 25% wage increase, bringing tense talks one step closer to completion.

Nov. 17, 2023 - online.wsj.com - WSJ.com: World News

UAW Workers at GM's Largest Plant Back Labor Pact, Boosting Deal's Chances

Majorities at several GM factories shot down the pact, creating a tighter vote than many expected.

Nov. 15, 2023 - online.wsj.com - WSJ.com: World News

GM says union labor deals will increase costs by $9.3 billion

The UAW's targeted strikes, which ended in late October, cost GM $1.1 billion in adjusted earnings before interest and tax, or EBIT, in 2023.

Nov. 29, 2023 - cnbc.com - US Top News and Analysis

NIO’s stock rises on report of plans to spin out battery unit

Chinese electric-vehicle maker's executives may seek outside capital to set up an independent battery company.

8 hr ago - marketwatch.com - MarketWatch.com - Top Stories

iPhone maker Foxconn plans extra $1.54 billion plant in India

Nov. 29, 2023 - yahoo.com - Yahoo News - Latest News & Headlines - India

Ford's new labor deal is expected to add $8.8 billion in costs over the roughly four-year contract.

Ford’s new labor deal is expected to add $8.8 billion in costs over the roughly four-year contract.

Dec. 1, 2023 - online.wsj.com - WSJ.com: World News

Disney expands cost-cutting plan by $2 billion, posts better-than-expected profit

Investors are looking for updates on Disney CEO Bob Iger's strategy for the slumping media giant.

Nov. 9, 2023 - cnbc.com - US Top News and Analysis

TransUnion to shed about 1,300 employees in cost-reduction plan as stock rises

The company plans a 10% reduction in its 13,000 employees.

Nov. 15, 2023 - marketwatch.com - MarketWatch.com - Top Stories

Workers at Ford plant in Kentucky split over UAW deal

Productions workers at Ford-based plants in Kentucky have voted against the United Auto Workers’s (UAW) tentative agreement with the Big Three automakers. In a Facebook post Sunday, UAW Local 862 shared that production workers who are chapter ...

Nov. 13, 2023 - thehill.com - Just In News | The Hill

The First Small-Scale Nuclear Plant in the US Died Before It Could Live

Six nuclear reactors just 9 feet across planned for Idaho were supposed to prove out the dream of cheap, small-scale nuclear energy. Now the project has been canceled.

Nov. 9, 2023 - wired.com - Wired

The Hunt for EV Battery Minerals Expands to Ocean Floor and Space

As electric-vehicle adoption rises across the globe, the race to find new deposits of critical minerals like lithium and nickel is driving miners to explore the deepest mines, the ocean floor and even space. WSJ’s George Downs explores the new ...

13 hr ago - online.wsj.com - WSJ.com: World News

Millions of EV Batteries Could Retire to Solar Farms

A Southern California company is showing how repurposing EV batteries for solar storage can extend their usefulness for several years.

Nov. 25, 2023 - wired.com - Wired

Net migration figures ‘shockingly high’ and show ‘scale of Tory failure’, Labour says – UK politics live

Keir Starmer blames failure of 'immigration, asylum and economic policy’ as net migration to UK hits record 745,000 in 2022. The Covid inquiry has announced its timetable for hearings next week. Matt Hancock, the former health secretary, who has ...

Nov. 23, 2023 - theguardian.com - The Guardian - United Kingdom