Tesla Inc.'s EV moat would widen as the Ford, GM and Stellantis face labor strife.
A United Auto Workers strike would come at a time when the Big Three U.S. automakers are struggling with the transition to electric vehicles, with Tesla Inc. emerging as a potential beneficiary of the labor strife.
Late Thursday, UAW leadership announced it was set to strike GM’s Wentzville, Mo., assembly plant, a portion of Ford’s Wayne, Mich., assembly plant, and a Stellantis plant in Toledo, Ohio, if an agreement is not reached. “Big auto is in a tight place when it comes to transitioning its business to electric, and the current UAW discussions will eventually result in a steep increase in costs that will further push them into the red,” Munster said.
Ford, GM and Stellantis also have struggled to make their EVs profitable. Part of the reason GM decided to end the production of its Chevy Bolt was the thin profit margins on the compact EV. GM then decided to bring back the Bolt at a later date using a shared EV architecture in hopes that will improve margins.
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