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Stock impact report

GM, LG joint venture recalls 700 workers to make non-EV batteries [Yahoo! Finance]

General Motors Company (GM) 
Last general motors company earnings: 2/5 08:05 am Check Earnings Report
US:NYSE Investor Relations: gm.com/investors/index.html
Company Research Source: Yahoo! Finance
General Motors and South Korean battery maker LG Energy Solution plan to recall 700 laid off UAW workers in Tennessee this quarter while the jointly operated plant converts to non-vehicle battery production, according to the automaker. The changes come after months of uncertainty for blue collar workers as GM has actively downshifted EV production across its manufacturing footprint due to lagging customer demand and a spate of regulatory changes that the company said will likely hamper future EV sales. When workers were initially put on temporary layoff starting in January, the return-to-work date was estimated to be at some point in July, according to GM spokesman Stu Fowle. “Ultium Cells shares GM's long-standing manufacturing strengths, including our flexibility and agility,” Fowle said March 17 in an emailed statement. “This announcement is allowing us to adjust our operations and bring people back to work sooner than originally planned while continuing to meet the needs of Show less Read more
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