The United Auto Workers (UAW) union recently came to tentative contract agreements with the Big Three automakers of Michigan, and General Motors’s (GM’s) investment plans in the agreement reportedly include around $2 billion dedicated to electric vehicle (EV) parts and production.
According to a summary of GM’s agreement with the UAW, GM is set to invest nearly $2 billion into EV production plans at facilities in Michigan, Kansas and New York (via Automotive News). The investments include $1.25 billion set for the Lansing, Michigan Grand River assembly plant and $391 million for its Fairfax, Kansas assembly facility, both of which will produce EVs. The automaker will also invest $300 million into its Tonawanda, New York site for electric drive production.
The financials come as part of more than $11 billion planned for manufacturing investments, many of which are also expected to be related to EV production. The UAW has also said that around $40 billion will be invested by the three automakers during the contract’s term, which ends in April 2028.
“We were able to wrench back so much of what these companies have stolen from us over the past few decades,” UAW President Shawn Fain said during a Facebook livestream on Saturday. “We won back our dignity as auto workers.”
The UAW GM Bargaining 2023 page is your hub to find the information you'll need to make an informed vote on the current tentative agreement. Check it out at the link below.https://t.co/5hBoPl8YrH#StandUpUAW pic.twitter.com/lj4lXuoIrP
— UAW (@UAW) November 4, 2023
Over the next few weeks, the UAW will hold votes for workers to ratify the tentative contracts, and all three of the automakers are including $5,000 ratification bonuses and wage increases of 25 percent over the four-and-a-half-year period.
Other parts of the contract include the restoration of cost-of-living adjustments (COLA) that bring the wage increases to around 33 percent, or over $42 per hour, according to the union. It will also increase the pay of temporary workers with over 90 days on the job by between 51 percent and 115 percent upon being ratified. Temporary workers will be able to become full-time and gain seniority status after working at covered locations for nine months.
Additionally, the agreement brings GM’s Ultium Cells joint venture plants under the contract’s coverage, and employees of the battery arm are expected to get hourly pay raises of at least $6 to $8 when the contract is ratified, according to the UAW.
Although GM refused to comment on the matter, CEO Mary Barra said that the automaker is “pleased to have reached a tentative agreement with the UAW that reflects the contributions of the team while enabling us to continue to invest in our future and provide good jobs in the U.S.”
Over the course of the strikes, Fain implied UAW hopes to reach other automakers not covered by the contracts in the coming years, including Tesla, Toyota, Honda and others. Last month, Fain called workers at the other automakers “UAW members of the future,” highlighting hopes to expand the union’s reach.
Following the union reaching tentative agreements with Ford, GM and Stellantis, Fain also said that the union was looking to bargain with the “Big Five or Six” in 2028 when contracts ended, suggesting that Tesla would likely be amongst the organization’s next targets.
The unionization of Tesla has seen workers divided, and past labor efforts at the automaker’s Fremont, California factory have failed. Tesla CEO Elon Musk also invited the UAW to hold a union vote at its Fremont factory last March, though the union never followed up.
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News
Tesla China registrations hit 20.7k in final week of June, highest in Q2
The final week of June stands as the second-highest of 2025 and the best-performing week of the quarter.
Tesla China recorded 20,680 domestic insurance registrations during the week of June 23–29, marking its highest weekly total in the second quarter of 2025.
The figure represents a 49.3% increase from the previous week and a 46.7% improvement year-over-year, suggesting growing domestic momentum for the electric vehicle maker in Q2’s final weeks.
Q2 closes with a boost despite year-on-year dip
The strong week helped lift Tesla’s performance for the quarter, though Q2 totals remain down 4.6% quarter-over-quarter and 10.9% year-over-year, according to industry watchers. Despite these declines, the last week of June stands as the second-highest of 2025 and the best-performing week of the quarter.
As per industry watchers, Tesla China delivered 15,210 New Model Y units last week, the highest weekly tally since the vehicle’s launch. The Model 3 followed with 5,470 deliveries during the same period. Tesla’s full June and Q2 sales data for China are expected to be released by the China Passenger Car Association (CPCA) in the coming days.
Tesla China and minor Model 3 and Model Y updates
Tesla manufactures the Model 3 and Model Y at its Shanghai facility, which provides vehicles to both domestic and international markets. In May, the automaker reported 38,588 retail sales in China, down 30.1% year-over-year but up 34.3% from April. Exports from Shanghai totaled 23,074 units in May, a 32.9% improvement from the previous year but down 22.4% month-over-month, as noted in a CNEV Post report.
Earlier this week, Tesla introduced minor updates to the long-range versions of the Model 3 and Model Y in China. The refreshed Model 3 saw a modest price increase, while pricing for the updated Model Y Long Range variant remained unchanged. These adjustments come as Tesla continues refining its China lineup amid shifting local demand and increased competition from domestic brands.
Elon Musk
Tesla investors will be shocked by Jim Cramer’s latest assessment
Jim Cramer is now speaking positively about Tesla, especially in terms of its Robotaxi performance and its perception as a company.
Tesla investors will be shocked by analyst Jim Cramer’s latest assessment of the company.
When it comes to Tesla analysts, many of them are consistent. The bulls usually stay the bulls, and the bears usually stay the bears. The notable analysts on each side are Dan Ives and Adam Jonas for the bulls, and Gordon Johnson for the bears.
Jim Cramer is one analyst who does not necessarily fit this mold. Cramer, who hosts CNBC’s Mad Money, has switched his opinion on Tesla stock (NASDAQ: TSLA) many times.
He has been bullish, like he was when he said the stock was a “sleeping giant” two years ago, and he has been bearish, like he was when he said there was “nothing magnificent” about the company just a few months ago.
Now, he is back to being a bull.
Cramer’s comments were related to two key points: how NVIDIA CEO Jensen Huang describes Tesla after working closely with the Company through their transactions, and how it is not a car company, as well as the recent launch of the Robotaxi fleet.
Jensen Huang’s Tesla Narrative
Cramer says that the narrative on quarterly and annual deliveries is overblown, and those who continue to worry about Tesla’s performance on that metric are misled.
“It’s not a car company,” he said.
He went on to say that people like Huang speak highly of Tesla, and that should be enough to deter any true skepticism:
“I believe what Musk says cause Musk is working with Jensen and Jensen’s telling me what’s happening on the other side is pretty amazing.”
Tesla self-driving development gets huge compliment from NVIDIA CEO
Robotaxi Launch
Many media outlets are being extremely negative regarding the early rollout of Tesla’s Robotaxi platform in Austin, Texas.
There have been a handful of small issues, but nothing significant. Cramer says that humans make mistakes in vehicles too, yet, when Tesla’s test phase of the Robotaxi does it, it’s front page news and needs to be magnified.
He said:
“Look, I mean, drivers make mistakes all the time. Why should we hold Tesla to a standard where there can be no mistakes?”
It’s refreshing to hear Cramer speak logically about the Robotaxi fleet, as Tesla has taken every measure to ensure there are no mishaps. There are safety monitors in the passenger seat, and the area of travel is limited, confined to a small number of people.
Tesla is still improving and hopes to remove teleoperators and safety monitors slowly, as CEO Elon Musk said more freedom could be granted within one or two months.
News
Tesla launches ultra-fast V4 Superchargers in China for the first time
Tesla has V4 Superchargers rolling out in China for the first time.
Tesla already has nearly 12,000 Supercharger piles across mainland China. However, the company just initiated the rollout of the ultra-fast V4 Superchargers in China for the first time, bringing its quick-charging piles to the country for the first time since their launch last year.
The first batch of V4 Superchargers is now officially up and running in China, the company announced in a post on Chinese social media outlet Weibo today.
The company said in the post:
“The first batch of Tesla V4 Superchargers are online. Covering more service areas, high-speed charging is more convenient, and six-layer powerful protection such as rain and waterproof makes charging very safe. Simultaneously open to non-Tesla vehicles, and other brands of vehicles can also be charged. There are more than 70,000 Tesla Superchargers worldwide. The charging network layout covers 100% of the provincial capitals and municipalities in mainland China. More V4 Superchargers will be put into use across the country. Optimize the charging experience and improve energy replenishment efficiency. Tesla will accompany you to the mountains, rivers, lakes, and seas with pure electricity!”
The first V4 Superchargers Tesla installed in China are available in four cities across the country: Shanghai, Zhejiang, Gansu, and Chongqing.
Credit: Tesla China
Tesla has over 70,000 Superchargers worldwide. It is the most expansive and robust EV charging network in the world. It’s the main reason why so many companies have chosen to adopt Tesla’s charging connector in North America and Europe.
In China, some EVs can use Tesla Superchargers as well.
The V4 Supercharger is capable of charging vehicles at speeds of up to 325kW for vehicles in North America. This equates to over 1,000 miles per hour of charging.
Tesla China registrations hit 20.7k in final week of June, highest in Q2
Tesla investors will be shocked by Jim Cramer’s latest assessment
Tesla launches ultra-fast V4 Superchargers in China for the first time
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