Ford Motor Co.'s $1.9 billion retrenchment of its electric vehicle product plans, announced this morning, is not the kind of news suppliers want to hear. They're already reeling from the industry's retreat from aggressive EV plans.
Reporter John Irwin has a timely story about the headaches these kind of EV retrenchments cause for suppliers — particularly when it comes to labor and hiring. The story looks at the troubles of several large global parts makers.
Job cuts are a last resort because finding the "right people with the right skill sets" is a major challenge, said Eric Wilds, marketing chief at Magna International.
Speaking of challenges, there are plenty at Stellantis these days, and the boss, CEO Carlos Tavares, is coming to Detroit this week in an attempt to fix them. For Matt McAlear, CEO of Stellantis' Dodge brand, the upcoming Charger Daytona EV needs to convert some muscle car owners.
Another major story breaking today is from Volkswagen, which will price the 2025 ID Buzz EV from $61,545, making it VW's most expensive U.S. model.
Looking ahead to Thursday, we will be taking a closer look at General Motors' plan for software and related services. We'll also be wrapping up this week's round of future product stories with a deep dive into Genesis' plans.
That's it for now. Have a great rest of your day.
