In our latest Alert Insight post, we share an alert our system generated last week that would be relevant to anyone watching the #automotive, #manufacturing and #energy industries, as well as those interested in #labor relations.
On Friday February 16, 2024, at 9:51 AM EST, our system learned from the Associated Press that the UAW, representing workers in Ford’s Kentucky truck plant, threatened to go on strike the following Friday over a local contract dispute.
This plant, which manufactures the profitable F-150, was the first one to go on strike in October 2023 during the recent wages dispute. And on February 15, during remarks delivered at the Wolfe Research Global Auto Conference in New York, Ford CEO Jim Farley expressed that the previous strike in Kentucky had changed the relationship between the company and the UAW.
It is clear that this new dispute will not improve this relationship, and could negatively impact Ford at a time where it needs the profits from sales of its best-selling truck to subsidize the costly shift to Electric Vehicles (EV). Because this move now focuses on developing cheaper cars to compete with Tesla and upstart EV manufacturers in China, the temptation to move a new EV plant to Mexico will only grow if the UAW advises its members to strike next week.
Read more about Causality Link’s alerts in our blog post, “A Predictive Edge: Harnessing the Anticipatory Power of Causality Link’s Market Alerts System”: https://lnkd.in/eZ3Gw2wm
Causality Link has brought together causal, neurosymbolic and generative AI to detect market-moving trends – right as they emerge. Contact us today for a custom demo and to learn more about how our tools can enhance your workflows, help you capture alpha and stay informed about the world around you.
