"EVs and Labor Contracts: Profit Challenges and Strategic Wins for US Automakers"

Ford and General Motors are facing challenges and reevaluating their electric vehicle (EV) plans due to a price war and supply chain issues. Ford reported a quarterly loss of $1.33 billion in its EV unit and is scaling back investments in the EV segment. General Motors saw its quarterly profit reduced by about $1.5 billion due to higher costs and increased EV sales. Both automakers are adjusting their EV production goals and focusing on improving profitability. The rise in battery raw material costs and the changing pricing and demand outlook in the EV market are impacting their profitability.