A tentative new contract at an Ohio battery maker on Monday was big for President Biden’s E.V. transition, but for some, the victory was upstaged by the U.A.W.’s activism on college campuses.
The agreement, if ratified, will cover 1,600 workers making batteries for General Motors in Ohio. The union said it would be a model for efforts elsewhere.
Contract talks at an electric vehicle battery plant in Lordstown could have even more of an impact than the autoworkers’ strike on the labor standards of the emerging electric-vehicle industry.
The company bought a shuttered General Motors plant in Ohio but struggled to produce its pickup truck.
The deal could result in the sale of the struggling automaker’s Ohio factory to Foxconn. Lordstown is under federal investigation and needs more cash to mass-produce an electric pickup truck.
The activist short-seller behind Hindenburg Research has become known for research that sends companies’ stock sinking. He says he’s not in it just to move share prices.
A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.
After an executive shake-up and conflicting statements about prospects for its electric pickup truck, the start-up is inviting investors to pay a visit.
Lordstown said last week that it needed to raise more money and might not survive. Now, the company’s new executive chairwoman has said “It’s a new day at Lordstown Motors.”
The company’s top executive resigned after the struggling automaker released an investigation by its board.
