TECH - 5 Ways Tesla Elon Musk Could Win From UAW Strikes Against Ford GM Stellantis | Benzinga
The ongoing UAW strike from the big three Detroit automakers continued to be a big topic of discussion for the markets and auto industry.
While no one knows exactly how long the strikes could last, some experts are pointing to Tesla Inc (NASDAQ: TSLA) and its CEO Elon Musk as the winners no matter the length or the contract outcome.
What Happened: On Friday, the UAW began strikes at several automotive manufacturing facilities, after failing to reach a Thursday deadline with three automakers for contract negotiations.
The strikes and contracts are against General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F) and Stellantis NV (NYSE: STLA), known collectively as the Big Three.
While the Big Three automakers and auto suppliers could be under pressure the longer strikes and negotiations take, Tesla could become the big winner of strikes and expand its dominance in the electric vehicle sector, according to a new report from Politico.
Here are five ways Tesla can win from the strike and key items to watch.
Related Link: UAW Strike Could Put Auto Suppliers, Michigan Economy In Crisis: Analysts Say
Labor Costs to Rise for Auto Companies: The UAW demanded higher wages for its union workers at automotive companies. While the auto companies have pushed back on the amount demanded, it is likely that higher wages come in a new contract.
"Tesla’s competitive advantage over the Detroit Three is going to widen,” CFRA Research Vice President of Equity Research Garrett Nelson told Politico.
General Motors, Ford and Stellantis pay higher wages than Tesla and ...