Plans outlined by the departments of Treasury and Energy would limit electric vehicle buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States. The post Proposed rules aimed at curbing China could make it harder to get full EV tax credit appeared first on Indianapolis Business Journal ..read more

Additional labor costs from the agreement will total $8.8 billion by the end of the contract, translating to about $900 per vehicle by 2028, Ford Chief Financial Officer John Lawler said in a company release. The post Ford says UAW strike cut sales by 100,000 vehicles, cost company $1.7B in profit appeared first on Indianapolis Business Journal ..read more

The company said it expects to absorb increased labor costs and have enough left to buy back stock worth nearly one quarter of the company's $44 billion market value. The post General Motors says autoworker strike took $1.1B bite out of earnings appeared first on Indianapolis Business Journal ..read more

The survey found that electric vehicles from the 2021 through 2023 model years encountered nearly 80% more problems than did vehicles propelled by internal combustion engines. The post Consumer Reports: EVs less reliable, on average, than conventional vehicles appeared first on Indianapolis Business Journal ..read more

A group of 3,700 auto dealers is calling on the Biden administration to pull back on federal regulations that will mandate that two out of every three vehicles sold in the United States in 2032 will be battery electric. The post Car dealers press Biden to ease U.S. electric vehicle mandates appeared first on Indianapolis Business Journal ..read more

With the deals set to be approved, workers at Ford and Stellatis will join counterparts at General Motors in ratifying the record contracts, ending a contentious labor dispute that brought a punishing series of strikes over six weeks. The post Union workers at Stellantis, Ford on verge of ratifying deals appeared first on Indianapolis Business Journal ..read more

The outcome was closer than expected after the UAW’s celebrations of victories last month on many key demands that led to six weeks of targeted walkouts against GM, Ford and Stellantis. The post General Motors seals deal with UAW workers in closer-than-expected vote appeared first on Indianapolis Business Journal ..read more

United Auto Workers hasn't posted final vote totals yet, but workers at several large factories, including one in Indiana, have turned down the four year and eight month deal by fairly large margins. The post Vote on tentative UAW contract with GM too close to call appeared first on Indianapolis Business Journal ..read more

The Energy Department estimates demand for lithium batteries will increase up to 10 times by 2030. The post Energy Department tries to boost battery industry with another $3.5B in funding appeared first on Indianapolis Business Journal ..read more

The automaker, formed in the 2021 merger of Fiat Chrysler and PSA Peugeot of France, said it is taking the action “to protect our operations and the company.” The post Stellantis to offer buyout, early retirement packages to 6,400 nonunion salaried workers appeared first on Indianapolis Business Journal ..read more