AD #3954 - VW Offers 14% Pay Increase to UAW; BYD Delays European Production; EU Won’t Back Off CO2 Targets

Volkswagen has offered a 14% pay raise and improved benefits to its Tennessee plant workers, but the UAW may push for more, following Detroit Three’s 25% raise deal. BYD is shifting its European production strategy by building larger EVs first in Hungary before introducing smaller models. Stellantis extends production stoppages in Italy amid demand drops, while Hyundai struggles in China, investing $1.1 billion to boost EV development. The EU remains firm on strict CO2 targets despite automaker pushback. Additionally, Hyundai expands its partnership with Google, and Chinese EV exports face challenges due to tariffs and import tax hikes in Brazil.