Are you invested in the automotive industry or interested in the latest developments in the world of business news? If so, you won’t want to miss the latest drama unfolding between United Auto Workers President Shawn Fain and Stellantis CEO Carlos Tavares.
In a recent video posted by Fain, he launched scathing criticisms at Tavares, accusing him of price gouging consumers and failing to uphold parts of the union’s labor contract with the automaker. These accusations come after contentious collective bargaining talks last year between the UAW and Detroit automakers, including Stellantis.
Fain’s comments in the video highlighted the declining sales and profits at Stellantis, juxtaposed with the soaring CEO pay. The union leader also alleged that Tavares is not honoring parts of the worker contract, specifically halting plans to reopen an assembly plant in Illinois.
On the other side, Tavares has been focused on a cost-cutting mission since the merger between Fiat Chrysler and France’s PSA Groupe in 2021. His “Dare Forward 2030” plan aims to increase profits and double revenue by 2030. This strategy has included reshaping the supply chain, reducing headcount, and optimizing operations.
The ongoing feud between Fain and Tavares adds another layer of complexity to the already turbulent automotive industry. Stay tuned to Extreme Investor Network for more in-depth analysis and exclusive insights into this developing story. Subscribe to our newsletter to receive the latest updates directly to your inbox!