U.S. District Judge Josephine Staton in Los Angeles said shareholders could try to prove that Rivian knew it would have to raise prices because of higher materials costs, to avoid even bigger losses.
The UAW union and Ultium Cells LLC are battling over wages, and the union wants better safety protections following multiple accidents at the plant.
German automaker Mercedes-Benz said its drivers will get access to more than 12,000 Tesla Superchargers in North America starting in 2024.
Porsche, Stellantis, Ferrari, BMW and other automakers are taking a hard look at carbon neutral e-fuel to extend the life of the internal combustion powertrains in their sports cars and pickups.
Michigan native Gene Sperling, a senior adviser to President Joe Biden, is being tapped to coordinate the administration’s bid to facilitate smooth contract talks between the Detroit Three automakers and United Auto Workers union.
Sperling is the White House’s coordinator of the $1.9 trillion coronavirus rescue package enacted in 2021. He directed the National Economic Council under Presidents Bill Clinton and Barack Obama, making him one of the defining economic policymakers of the past several decades.
“As a White House point person on key issues related to the UAW and Big 3, Sperling will help ensure administration-wide coordination across interested parties and among White House policymakers. Gene will work hand-in-glove with Acting (Labor) Secretary Julie Su on all labor-related issues,” a White House official said in a statement to Crain’s Detroit Business. The official requested anonymity to confirm the move that was first reported by Politico.
Contracts with General Motors, Ford and Stellantis, which together employ about 150,000 auto workers, expire on Sept. 14. Negotiations are to start sometime in mid-July, but no specific dates have been released.