TECH - Ford's New UAW Deal: A Boon For Workers A Blow For EV Plans? | Benzinga
A recent tentative agreement between Ford Motor Co. (NYSE:F) and the United Automobile Workers (U.A.W.) has sparked discussions on its potential impact on the automaker’s future, particularly its electric vehicle (EV) plans.
The financial implications of the deal could be a challenge for Ford. The company’s CFO, John Lawler, expressed concerns on Thursday that the additional expenses could impact profitability and potentially hinder investments in new technology, reported The New York Times.
The agreement offers U.A.W. members the most favorable terms they’ve seen in years, but it might complicate Ford’s EV ambitions. The new contract, which is expected to set a precedent for future deals with General Motors and Stellantis, includes a 25% wage increase over four-and-a-half years, enhanced retirement benefits, and other provisions.
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Some experts voiced skepticism about the agreement with the U.A.W., suggesting that Ford ...