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The United States has entered a trade war with China after imposing a 25% tariff on $34 billion worth of Chinese goods. China has reciprocated with tariffs of its own, companies like Tesla are already feeling the burn. Tesla had to increase the price of its cars in China, but CEO Elon Musk already has plans to get around the tariffs. Since it looks like the US and China aren’t backing down, Tesla has announced a new factory in Shanghai. Musk met with Chinese officials, and Shanghai will speed up efforts to cancel restrictions on foreign investment in the country. In the past, ...
BMW has warned that it may be forced to reduce investment and slash its workforce at its Spartanburg, South Carolina, production facility if President Trump succeeds in imposing a 20 percent tariff on imported EU-built vehicles. This plant happens to be BMW’s largest in the world and ships more than 70 percent of its annual production output to other countries. But how can US tariffs on imports affect Spartanburg? Because other countries, such as China, have threatened to retaliate against the US imposed tariffs on their goods with tariffs of their own. China being one of Spar...
Volvo had barely savored its new factory in Charleston, South Carolina before newly imposed tariffs threatened its future. This plant was opened to build the all-new S60 sedan as well as the next-generation XC90 SUV. Volvo was set to hire around 4,000 new employees, but Automotive News Europe reports that these plans might be up in the air due to the fear of the tariffs. If these tariffs are imposed, it could have a major effect on Volvo’s new factory. Volvo’s CEO Hakan Samuelsson said that if there are trade barriers and restrictions, they won’t be able to create ...
Despite a massive fire at the Meridian Magnesium Products facility in Eaton Rapids, Michigan, Ford’s Dearborn Truck Plant will resume F-150 production on Friday, May 17th. Ford officials say that the supply chain for the Super Duty is also restored, which should lead to production restarting at the Kentucky Truck Plant by Monday, May 21st. The Kansas City Assembly Plant is also scheduled to resume work by May 21st. After the May 2nd fire, Ford teams addressed safety concerns and restored electricity as quickly as they could. Their goal was to retrieve and relocate tools so pro...
Ford Motor Co. said that it will halt production of its top-selling F-150 and Super Duty pickup trucks at some of its U.S. plants following a fire at a Michigan plant that produces instrument panels. The truck side of Ford’s Kansas City Assembly plant has been suspended due to parts shortage. This means that about 3,600 workers are idled with no date set for reopening the plant. And the Dearborn Truck plant in Michigan is getting closed too. That plant has 4,000 employees. In addition, F-Series Super Duty production is suspended at the Kentucky Truck Plant in Louisville. ...
