US EditionElon Musk warns UAW demands will put Detroit's Big Three on the "fast lane" to bankruptcy
- Tesla CEO Elon Musk warned that if the Big Three automakers give in to the United Auto Workers demands for a 40% pay rise and a 32-hour workweek, it could lead to corporate failure for GM, Ford, and Chrysler. Musk argued that these added costs would make their cars unaffordable and could drive the companies bankrupt.
- In addition, if the UAW succeeds in achieving most of its demands, it could set a precedent for Tesla workers to expect the same wage hike, regardless of whether they are unionized or not. This would make it difficult for GM, Ford, and Chrysler to compete with Tesla in the electric vehicle market as labor costs rise for the Big Three.
- As Musk further pointed out, passing on wage increases to the cost of cars would make them unaffordable and result in a major sales drop, potentially leading to bankruptcy for the automakers.
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Elon Musk blasts Biden over advice to UAW strikers
Tesla CEO Elon Musk criticized President Biden’s advice to striking UAW autoworkers during his visit to the picket line on Tuesday, when he supported their demands for a 40% pay hike and a shorter work week. It is a "sure way to drive GM, Ford and Chrysler bankrupt in the fast lane" Musk posted on X. His remarks came on the 12th day of tense discussions between the UAW workers and the three U.S. auto manufacturers. Biden, in a union baseball ca…
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Total News Sources8
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
13%
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