Welcome to today's edition of the Daily 5.
UAW President Shawn Fain is scheduled to speak tonight at the Democratic National Convention in Chicago.
Coincidentally, perhaps, the union today threatened to strike Stellantis because it says the automaker isn't moving fast enough to implement terms of the 2023 labor contact.
One of those terms? Reopening the company's idled assembly plant in Belvidere, Ill., northwest of Chicago. It's a good bet this might come up in his speech tonight.
Meanwhile, General Motors' plan to cut 1,000 jobs in its software service organization is looking like an annual event at the automaker. It was almost exactly a year ago that GM eliminated 940 jobs by closing its Arizona IT Innovation Center.
Automakers traditionally seem to vacillate between contracting out these functions or bringing them in-house. And there's never been a more important time for software development in this industry, as the term "software-defined vehicle" emerges in the world of electric and autonomous technology.
Looking ahead to Tuesday, we'll highlight more of the future product plans at Hyundai. We'll also explore the future direction of ultraluxury automaker McLaren.
That's it for now. Enjoy the rest of your day.
