DETROIT, Oct 30 — United Auto Workers union leaders approved a new tentative contract agreement Sunday with Ford Motor that includes US$8.1 billion in company manufacturing...
DETROIT, Oct 30 — United Auto Workers union leaders approved a new tentative contract agreement Sunday with Ford Motor that includes US$8.1 billion in company manufacturing investments, while bargaining continues at General Motors without any deal.
The UAW posted terms of its new contract deal with Ford after talks with local union leaders in Detroit, before taking the deal to all union workers for ratification.Ford will add electric vehicles to existing assembly plants in Louisville and Ohio, according to the UAW summary of terms. GM and Ford shares have fallen roughly a fifth since the beginning of the strike on September 15. Stellantis shares are down just 1 per cent.The Spring Hill walkout could hobble GM’s large pickup production as well as assembly of other popular GM vehicles. Ripple effects from an extended Spring Hill strike could boost the costs of the stalemate for GM well beyond the US$400 million a week the company reported last week.
Progress toward resolving the disputes between UAW and GM could slow on Sunday because Fain is scheduled to attend meetings with Ford local officials in the Detroit suburb of Taylor, Michigan, and give a video update on the Ford deal at 7pm ET . Fain said on Saturday that local union leaders at Stellantis plants will come to Detroit on November 2 before the agreement is sent to members for ratification.Fain has been especially tough on Ford through the contract negotiations, despite the automaker having cultivated a collaborative relationship with the UAW in the past.
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