Tesla News

The Big Three—General Motors, Ford, and Stellantis—face a dual challenge as they navigate a costly transition to electric vehicles (EVs) amidst a financially draining strike by the United Auto Workers (UAW). The UAW’s demand for a 35-40% wage hike amidst this pivotal transition exacerbates the financial strain, with Ford's CEO warning of potential bankruptcy. The strike has already caused a $5.5 billion loss across the Big Three, illustrating a precarious balance between honoring workforce demands and ensuring corporate survival in the competitive EV market.

In Q3 2023, GM reported its delivery numbers for electric vehicles (EVs), showing signs of gradual progress in EV production. While the Bolt, Hummer EV, and Cadillac Lyriq achieved increased sales, these figures remain relatively modest. GM's introduction of the Blazer EV and Silverado EV also indicates a diversifying lineup. However, with only 3% of Q3 sales being EVs, GM's claims of EV leadership contrast with the small market share they currently hold. The report highlights GM's slow but discernible momentum in the EV race, emphasizing the need for more substantial growth to compete effectively in the EV market.