The UAW on Wednesday announced a strike deadline at a Ford Motor tool and die plant that supports the automaker's Rouge Complex near Detroit - one of two U.S. plants that produce the company's highly profitable F-150 pickup truck.
Ford's management stated that the larger UAW settlement reached in November last year would cost the company $8.8 billion until it expires in April 2028, which included pay raises of approximately 25%.
Ford has just begun to recover from a failed foray into the EV market, with planned investments of $30 billion to gain traction in the quickly expanding EV sector.
Despite difficulties, Ford's U.S. sales rose 13.4% in August to 182,985, with F-150 sales hitting 70,701, reflecting an 11.7% year-over-year increase.
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