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GM's labor deal with UAW union on verge of ratification

Nov 15 (Reuters) - General Motors' tentative labor deal with the United Auto Workers (UAW) union closed in on ratification as the votes were counted on Wednesday. Following the approval earlier in the day by more than 60% of union members at the Detroit automaker's large Arlington, Texas, assembly plant, additional votes in favor have the deal close to clinching majority approval. The number of union locals, most of which are smaller, still to report vote totals is not large. After several large assembly plants voted against the deal earlier on Wednesday, some media had reported the deal was heading toward failure. But Arlington's support, followed by strong voting in favor by smaller warehouse and parts facilities, has put the deal on the brink of approval. This would mark the first ratification of a deal, which runs through April 2028, with one of the Detroit Three automakers. Ford and Stellantis voting is still under way, and workers at both companies were favoring ratification by comfortable margins. The UAW's GM vote tracking site currently shows approval of the contract leading by a 54% to 46% margin with almost 32,000 workers having cast votes out of about 46,000 UAW-represented GM workers. The Arlington plant, with about 5,000 UAW members, has the most of any GM plant. Voting officially ends on Thursday at 4 p.m. EST, although most votes will be cast on Wednesday. The UAW went on strike for more than six weeks against the Detroit Three, seeking better wages, working conditions and cost-of-living adjustments. All three companies agreed to tentative agreements about two weeks ago. Workers at other GM assembly plants voted against the deal, including 60% of workers at its Fort Wayne, Indiana, truck plant, 53% at its Wentzville, Missouri, plant, 58% of workers at GM's Lansing Grand River plant and 61% of workers at the Lansing Delta Township plant. Seven of GM's 11 assembly plants rejected the deal. In addition to Arlington, workers at plants in Detroit, Fairfax, Kansas; and Lake Orion, Michigan; approved the agreement. Only nine facilities are still listed without vote totals on the UAW vote tracker, including GM's Lockport, New York, components plant with about 1,200 members. Those voting in favor of the agreement have a lead of almost 2,500 and many of the facilities still to come include workers who stand to receive large pay increases upon ratification.

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

Which of these five plug-ins should win the 2017 Green Car of the Year?

It's going to be a competitive race for the 2017 Green Car Of The Year. With a minivan in the running for the first time in ages, the five finalists announced by Green Car Journal today include five very different plug-in vehicles. As Ron Cogan, the editor and publisher of Green Car Journal, said in a statement, "electrification is now considered by most automakers an essential technology for current and future high-efficiency models." Let's check out the list: Toyota Prius Prime, the updated plug-in version of the world's best-selling hybrid. Chevy Bolt, GM's all-new entry into the long-range EV game. Chrysler Pacifica, a family hauler with the ability to go 30 miles on electric power. Kia Optima. The nomination is for the full line-up, but really the hybrid and plug-in hybrid models are the green stars here. BMW 330e iPerformance, one of the automaker's many new plug-in hybrids that bring battery power to models outside the i sub-brand. Green Car Journal will announce the winners at the Los Angeles Auto Show on November 17th, along with some, "other green transportation announcements," whatever that means. Last year, the winner was the 2016 Chevy Volt, the first model to snatch up two wins. Which do you think should win this year? Related Video: News Source: Green Car JournalImage Credit: REUTERS/Kevork Djansezian Green LA Auto Show BMW Chevrolet Chrysler Kia Toyota Chevy Bolt chrysler pacifica green car of the year toyota prius prime bmw 330e