Stellantis NV
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€11.00 | Jsvgp | Zhwzdwp |
UAW Strike Update: Tentative Deal Reached With Ford May Set the Pattern for GM and Stellantis
The United Auto Workers union announced the night of Oct. 25 that it reached a tentative new 4.5-year contract with Ford. The deal is not effective until ratified by a majority vote of Ford’s approximately 57,000 UAW workers. UAW’s Ford national council will meet in Detroit on Oct. 29 to vote on sending the contract to all members. If they vote to do so, the union that night will host a live video to give members details and release summary literature. There will then be local chapter meetings to discuss the deal and eventually a vote. The union has instructed Ford workers to return to work during the voting process to pressure GM and Stellantis to make a deal. The strike started at all three firms on Sept. 15. We expect the deal to be ratified.