{"id":3938,"date":"2023-05-04T01:13:07","date_gmt":"2023-05-04T05:13:07","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/uaw-holds-off-on-endorsing-biden-for-2nd-term-citing-ev-policies\/"},"modified":"2023-05-04T01:13:07","modified_gmt":"2023-05-04T05:13:07","slug":"uaw-holds-off-on-endorsing-biden-for-2nd-term-citing-ev-policies","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=3938","title":{"rendered":"UAW holds off on endorsing Biden for 2nd term citing EV policies"},"content":{"rendered":"
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\u00a9 Reuters UAW holds off on endorsing Biden for 2nd term citing EV policies<\/span>
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United Auto Workers (UAW) President Shawn Fain said in a letter to members seen by Reuters Wednesday that the Detroit-based union has yet to endorse President Joe Biden for a second term, citing concerns about electric vehicle policies.<\/p>\n

“The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers. The EV transition is at serious risk of becoming a race to the bottom. We want to see national leadership have our back on this before we make any commitments,” Fain said.<\/p>\n

Fain met with White House Chief of Staff Jeff Zients and lawmakers last week during a trip to Washington. Fain and U.S. Senator Bernie Sanders on Thursday criticized a General Motors Company (NYSE:) joint venture battery plant for paying workers much less than assembly plant employees even though it benefits from hefty U.S. government tax credits.<\/p>\n

Workers at the Warren, Ohio, joint venture Ultium Cells plant near Lordstown start at $16.50 an hour rising to $20 an hour after seven years while union workers at a nearby Ohio GM assembly plant that closed in 2019 made $32 an hour or more.<\/p>\n

“The situation at Lordstown, and the current state of the EV transition, is unacceptable. We expect action from the people in power to make it right,” Fain said.<\/p>\n

Fain said the Ultium plant at full production will receive more than $1.2 billion a year in U.S. battery production tax credits.<\/p>\n

Fain noted in his letter that UAW will enter contract talks on behalf of 150,000 workers at General Motors, Ford Motor Company (NYSE:) and Stellantis NV (NYSE:). The Detroit Three “are making record profits while workers get left behind. We\u2019ll stand with whoever stands with our members in that fight.” Fain said.<\/p>\n

Fain said the union will be “ready to talk politics once we secure a future for this industry and the workers who make it run.” He said “another Donald Trump presidency would be a disaster. But our members need to see an alternative that delivers real results.”<\/p>\n

Shares of F are up 0.64%, while GM and STLA are down 1.01% and 2.14% in afternoon trading on Wednesday.<\/p>\n

By Michael Elkins | Michael.Elkins@streetinsider.com<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters UAW holds off on endorsing Biden for 2nd term citing EV policies United Auto Workers (UAW) President Shawn Fain said in a letter to members seen by Reuters Wednesday that the Detroit-based union has yet to endorse President Joe Biden for a second term, citing concerns about electric vehicle policies. “The federal government […]<\/p>\n","protected":false},"author":1,"featured_media":1462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-3938","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nUAW holds off on endorsing Biden for 2nd term citing EV policies | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters UAW holds off on endorsing Biden for 2nd term citing EV policies United Auto Workers (UAW) President Shawn Fain 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