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Reuters | Equities.com |

Detroit's Big Three automakers and the United Auto Workers (UAW) union said on Tuesday they will reinstate requirements to wear masks at all U.S. plants, offices and warehouses beginning on Wednesday, but are not requiring workers to be vaccinated.

The move is in response to the Center for Disease Control and Prevention’s (CDC) change in COVID-19 guidance for masks for fully vaccinated people related to the Delta variant, General Motors Co, Ford Motor Co and Chrysler parent Stellantis NV said in a joint statement with the union.


Reuters | Equities.com |

The White House has told U.S. automakers it wants them to back a voluntary target of at least 40% of new vehicles sales being electric by 2030 as it works to reduce greenhouse gas pollution, sources briefed on the matter said.

The discussions with U.S. automakers on electric vehicle (EV) targets come as the Biden administration is set as early as next week to roll out its proposed revisions to vehicle emissions standards through 2026.


Kimberly Redmond | Equities.com |

The Ford Motor Company (NYSE: F) is reinstating mask requirements for workers and visitors at its facilities in Florida and Missouri, two states where new cases of COVID-19 are spiking.

Additionally, the automaker is ordering its US employees to get vaccinated against coronavirus prior to international business travel, The Detroit News reported.


Reuters | Equities.com |

South Korea's Hyundai Motor Co turned in its best quarterly profit in about six years on Thursday, helped by solid demand for its high-margin sport-utility vehicles (SUVs) and its premium Genesis cars.

Hyundai, which together with affiliate Kia Corp is among the world's 10 biggest automakers by sales, reported net profit of 1.8 trillion won ($1.57 billion) for April-June versus 227 billion won in the same period a year earlier.


Reuters | Equities.com |

General Motors Co said Wednesday it will cut some truck production in North America because of the ongoing global semiconductor shortage.

The largest U.S. automaker said its Flint Assembly plant that builds the Chevrolet Silverado HD and GMC Sierra HD trucks will operate on one production shift the week of July 26.


Kimberly Redmond | Equities.com |

Volkswagen Group (OTC: VWAGY) plans to appeal a Dutch court order to compensate owners of vehicles that were fitted with illegal software designed to cheat emissions tests.

The District Court in Amsterdam ruled Wednesday that buyers of new Volkswagen, Audi, Seat and Skoda vehicles that were rigged are each entitled to compensation of 3,000 euros ($3,538), while owners of a second-hand car should get 1,500 euros apiece.


Kimberly Redmond | Equities.com |

Ford Motor Company and General Motors Company have both replaced the use of “chairman” with chair in an effort to create more inclusive work environments. According to The Detroit Free Press, Ford notified federal regulators on July 9 that its board of directors voted the previous day to amend the company bylaws to “adopt gender neutral language throughout, including the title “chair” instead of “chairman.”


Reuters | Equities.com |

General Motors Co said on Monday it is turning to a German parts supplier to make the initial, small production run of its new electric commercial van in a move to get the vehicle quickly into the hands of customer Fedex.

The decision to use Kuka AG to build the EV600 vans is not typical in the industry. But it shows the No. 1 U.S. automaker's desire to stick to a plan to roll out the vehicle in late 2021, said Travis Katz, chief executive of GM's BrightDrop commercial van business.


Kimberly Redmond | Equities.com |

Stellantis NV (NYSE: STLA), the parent company of car brands including Jeep, Dodge and Ram, plans to invest at least $35.5 billion by the end of 2025 to expand its lineup of electric vehicles.

On Thursday, the world’s fourth-largest automaker said within the next four years it will have 55 electrified vehicles on the market in the US and Europe.


Kimberly Redmond | Equities.com |

General Motors Company (NYSE: GM) plans to boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 75% increase from the spending previously announced by the automaker.

In November 2020, GM upped its spending plans from $20 billion — a figure that was announced in March before the onset of the COVID-19 pandemic — to $27 billion.