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Battery Plants

All articles tagged with #battery plants

business2 years ago

Ford Workers Approve UAW Deal for Battery-Plant Pathway

Ford Motor Co. workers, represented by the United Auto Workers (UAW), will vote on a new agreement that includes provisions for battery-plant workers to join the union, the restoration of lost benefits, and the elimination of certain wage tiers. The deal, which follows a 41-day strike, includes $8.1 billion in investments, compounded base wage increases, improved conditions for temporary workers, and contributions to retirement plans. If ratified, the agreement would mark a major victory for the UAW and its president, Shawn Fain. The UAW has also secured a tentative agreement with Stellantis NV, while negotiations with General Motors Co. continue.

via Detroit News|
#battery-plants#business#ford
business2 years ago

Ford's Kentucky EV battery plant delayed, impacting production plans

Ford is delaying the start of production at one of its two electric vehicle (EV) battery plants in Kentucky due to uncertainty about demand for EVs. While the first plant remains on schedule to begin production in 2025, the start of work at the second plant, known as Kentucky 2, is uncertain. Ford's joint venture with Korean partner SK, BlueOval SK, will continue building Kentucky 2 to ensure the construction site is safe. This delay does not affect the BlueOval SK plant in Tennessee, which remains on track to start production in 2025. Ford CEO Jim Farley reaffirmed the company's commitment to EVs and its plans for future EV models.

via WDRB|
#battery-plants#business#evs
business2 years ago

UAW Holds Ford Hostage Over Battery Plants, Compromise Elusive

Ford CEO Jim Farley criticized the UAW for holding the contract deal hostage over battery plants that don't exist yet, stating that none of their workers will lose their jobs due to the battery plants during this contract period. Farley questioned whether the UAW is trying to create "industrial chaos" and emphasized the need for compromise and leadership to reach an agreement. The UAW responded, stating that they are far apart on core economic proposals and job security in the EV transition. The length of the strike will depend on both parties compromising.

via Detroit Free Press|
#battery-plants#business#contract-negotiations
business2 years ago

"Ford CEO Accuses UAW of Holding Labor Deal 'Hostage' Amid Battery Plant Uncertainty"

Ford CEO Jim Farley accused the United Auto Workers (UAW) union of holding up a new labor agreement to demand equal wages for workers at new battery plants. Farley also revealed that Ford is awaiting clarification from the U.S. Treasury on whether batteries produced at a planned Michigan plant using Chinese technology will qualify for tax credits. The UAW President, Shawn Fain, disputed Farley's claims and stated that the sides were far apart on core economic proposals. Ford recently paused work on its $3.5 billion battery plant in Michigan due to concerns about competitiveness, and Republican lawmakers have been investigating the partnership with Chinese battery company CATL.

via Reuters|
#battery-plants#business#ford-motor
business2 years ago

"UAW Faces Intensifying Strike Threats Ahead of Automaker Negotiations"

The United Auto Workers (UAW) union is gearing up for contract negotiations with Detroit's automakers, with the potential for a strike looming. The UAW is seeking representation in the joint-venture plants that will manufacture electric vehicle batteries, viewing this as a crucial opportunity to secure jobs in the industry's future. As the industry transitions to EVs, the automakers will require thousands of workers for battery plants. The UAW is also pushing for general pay raises, the elimination of wage tiers, and the restoration of cost-of-living pay and pensions for new hires. The negotiations will be a test for UAW President Shawn Fain, who aims to secure higher wages and job security while the automakers aim to contain battery costs to remain competitive.

via WDIV ClickOnDetroit|
#automakers#battery-plants#business
business2 years ago

Ford secures $9.2B loan for US battery factories.

Ford's plans to build three battery plants in Tennessee and Kentucky, along with an assembly plant in Tennessee, are on track to receive up to a $9.2 billion federal loan, the largest award under the US Department of Energy's loan program since President Joe Biden took office. The loan would help secure a sizable chunk of funding for Ford's big electric vehicle swing in the two states, with the three battery plants combined expected to create 5,000 construction jobs and 7,500 operations jobs. However, the announcement drew sharp criticism from the United Auto Workers union, which called it "a massive $9.2 billion giveaway loan to Ford Motor Co. through the Department of Energy to create 7,500 low-road jobs with no consideration for wages, working conditions, union rights or retirement security."

via ABC News|
#battery-plants#business#electric-vehicles
business2 years ago

Ford secures $9.2B loan for US battery factories.

Ford's plans to build three battery plants in Tennessee and Kentucky, along with an assembly plant in Tennessee, are on track to receive up to a $9.2 billion federal loan, the largest award under the US Department of Energy's loan program since President Joe Biden took office. The loan would help secure a sizable chunk of funding for Ford's big electric vehicle swing in the two states, with the three battery plants combined expected to create 5,000 construction jobs and 7,500 operations jobs. However, the announcement drew sharp criticism from the United Auto Workers union, which called it "a massive $9.2 billion giveaway loan to Ford Motor Co. through the Department of Energy to create 7,500 low-road jobs with no consideration for wages, working conditions, union rights or retirement security."

via ABC News|
#battery-plants#business#electric-vehicles
business2 years ago

Ford secures $9.2B loan for EV battery plant joint venture.

Ford has received a $9.2 billion loan from the US Department of Energy to build three battery plants for future Ford and Lincoln electric vehicles. The loan will be provided to BlueOval SK, a joint venture between Ford and SK On, a South Korean-based EV battery manufacturer. The plants will be built in Tennessee and Kentucky, with battery production scheduled to begin in 2025. Ford aims to produce 2 million EVs annually globally by 2026.

via CNET|
#battery-plants#business#department-of-energy
business2 years ago

Ford-SK Joint Venture Secures $9.2B US Loan for Battery Plants

The US Energy Department plans to lend up to $9.2bn to a joint venture of Ford Motor and South Korea's SK On to help it build three battery plants in Tennessee and Kentucky. The low-cost government loan for the BlueOval SK joint venture comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program. The plants will displace more than 455 million gallons of gasoline per year for the lifetime of the vehicles powered by the batteries they manufacture. The project is expected to create 5,000 construction jobs in Tennessee and Kentucky, and 7,500 operations jobs once the plants are up and running.

via Yahoo Finance|
#battery-plants#business#ev
business2 years ago

"GM and Hyundai Invest Billions in US EV Battery Plants"

General Motors and Hyundai have announced plans to build electric vehicle battery plants in the US, with a joint investment of $3bn and $5bn respectively. The GM-Samsung factory will have more than 30GWh of capacity and bring GM’s total US battery cell capacity to about 160GWh when it is at full production. Hyundai's EV battery plant will be constructed in Georgia’s Bartow County, with the aim of producing battery cells starting in the second half of 2025. The plants are part of a host of new EV facilities that are expected to come online in the coming years.

via The Verge|
#battery-plants#business#evs
business2 years ago

Major automakers invest billions in US battery plants for EV production.

General Motors and Hyundai are investing $8 billion in new battery manufacturing plants in the US to meet local sourcing requirements for federal electric vehicle tax credits. GM is partnering with Samsung SDI on a $3 billion plant that will open in 2026, while Hyundai and SK On are building a $5 billion plant in Georgia that will begin operations in 2025. The new facilities will have a combined annual manufacturing capacity of 65 gigawatt-hours of cells, enough for approximately 1.3 million electric vehicles.

via Fox Business|
#battery-plants#business#electric-vehicles