F Jun 2024 11.820 put
- Yahoo Finance
Audi furthers EV push into China with new platform agreement
Volkswagen’s Audi premium group is pushing deeper into the Chinese market with domestic partnerships, signing a deal with state-owned SAIC to develop new EVs for the mainland. This comes as global rivals like GM and Ford look to minimize losses in the region.
- Barrons.com
Mercedes Alabama Plant Rejects UAW. What That Means for Ford, GM.
Mercedes-Benz workers in Tuscaloosa, Ala., voted against union representation, representing a small headwind for the Detroit Three.
- Reuters
Ford asks suppliers to cut costs in push to turn EV business profitable, memo says
Ford Motor Co has asked its electric-vehicle suppliers to reduce costs in an attempt to support profitability, saying "everything is on the table," according to a company memo seen by Reuters. Discounts and sharp price cuts from competitors, including EV market leader Tesla, to sustain consumer demand amid high interest rates have forced Ford to reciprocate. "To ensure affordability, it is of paramount importance that our portfolio achieves further levels of material cost efficiency."
