News
Ford to invest $4.7B to improve manufacturing plants & add 6,200 UAW employees to workforce
Ford plans to invest $3.7 billion to add over 6,200 union jobs to its manufacturing plants in Michigan, Ohio, and Missouri. The legacy OEM also plans to invest another $1 billion in the next five years to improve the workplace environment in its factories based in the United States.
Besides adding 6,200 permanent Union Auto Workers (UAW) employees, Ford also expects its $3.7 billion investment to indirectly generate an estimated 74,000 new jobs in the U.S. by the end of 2026. The traditional automaker plans to convert 3,000 temporary employees into permanent full-time workers with immediate health benefits on the first day of employment.
“Ford is America’s Number 1 employer of hourly autoworkers, and this investment only deepens our commitment to building great new vehicles – from an all-new Mustang to new EVs – right here in the U.S. in partnership with the UAW,” said Bill Ford, executive chair of Ford. “I am proud that we are investing in the Midwest and taking real action to provide better benefits and working conditions for our workers on the plant floor.”
Ford’s $3.7 billion investment is broken down by factory below.
- Michigan: Ford plans to invest $2 billion in Michigan, generating 3,200 union jobs. The investment will create nearly 2,000 jobs throughout three assembly plants in Michigan. The new assembly plant jobs will increase production of the all-new F-150 Lightning electric truck to 150,000 per year at Rouge Electric Vehicle Center in Dearborn, produce an all-new Ranger pickup at Michigan Assembly Plant in Wayne and an all-new Mustang coupe at Flat Rock Assembly Plant. The billion-dollar investment includes $35 million to build an all-new Ford Customer Service Division packaging facility in Monroe that will create more than 600 union jobs. The Ford Customer Service Division is expected to start operations by 2024 to help accelerate parts shipments for Ford customers.
- Ohio: Ford plans to invest $1.5 billion in Ohio, creating 1,800 union jobs at Ohio Assembly Plant. It plans to generate an additional 90 jobs with $100 million investments between Lima Engine and Sharonville Transmission plants.
- Missouri: In Missouri, Ford plans to make a $95 million investment. The investment will generate 1,100 union jobs for a third shift at Kansas City Assembly Plant. More workers would increase the production of the Transit and the all-new E-Transit electric van.
The automaker and the UAW supported Bill Ford’s words by announcing new vehicles, plant investments, and workplace improvements before formally agreeing on a new union contract. The current UAW contract expires in 2023.
“This announcement is a testament to UAW members who contribute their skill, experience and knowledge to the success of Ford Motor Company,” said UAW President Ray Curry. “We are always advocating to employers and legislators that union jobs are worth the investment. Ford stepped up to the plate by adding these jobs and converting 3,000 UAW members to permanent, full-time status with benefits.”
Besides the $3.7 billion investment, Ford plans to invest another $1 billion to improve the employee facilities in its manufacturing plants. The $1B investment will give employees access to healthier foods, install EV chargers in the parking lots, add more lighting in the parking area, and make other changes. Ford stated that each plant would have different improvements.
Ford aims to produce 2 million electric vehicles per year globally by 2026 through its Ford Model e trademark—a separate operation dedicated to EV production. Ford Blue is dedicated to the company’s internal combustion engine businesses. Besides its investment announcements, Ford also confirmed the launch of an all-new electric commercial vehicle for Ford Pro customers in Ohio. The Ford Pro electric commercial vehicle is expected to debut “mid-decade.”
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News
SpaceX Starship Flight 13 faces wrath of the Texas skies
SpaceX pushed Starship Flight 13 to Friday, blaming weather instead of the previous engine issues.
SpaceX called off Thursday’s launch attempt of Starship Flight 13, pushing the mission to Friday because of weather tied to Tropical Storm Bertha. The company confirmed the delay on X, noting “Now targeting Friday, July 24 for Starship’s thirteenth flight test, due to weather. A key objective for the flight test is to get clear imagery from the ground of Starship’s heatshield as it flies at a higher dynamic pressure during ascent, which won’t be possible with today’s weather conditions.”
This is the second delay for Flight 13 in two weeks. SpaceX first tried to launch the mission on July 16, but the countdown ended in an automated abort at T-0 when four of Super Heavy Booster 20’s 33 Raptor engines failed to ignite. Musk said at the time that two Raptors would need to be removed and replaced, as Teslarati reported. The company spent the following week destacking Ship 40 and Booster 20, swapping engines, and running leak checks before restacking the vehicle on Pad 2 Wednesday night, according to Spaceflight Now’s live coverage.
Unlike the engine problem, Thursday’s delay has nothing to do with the hardware. SpaceX wants clean footage of Starship’s heat shield captured from the ground as the vehicle flies through max dynamic pressure, something the storm’s cloud cover over South Texas would not allow. The company said visibility should improve for Friday’s attempt, with the same 90 minute window opening at 5:45 p.m. CT.
Flight 13 will be the second outing for the V3 versions of Starship and Super Heavy, following their debut on Flight 12 in May. The mission carries 20 production Starlink V3 satellites, the first time SpaceX has flown operational satellites rather than mass simulators on Starship. Six of those satellites are fitted with cameras to inspect the heat shield from a different angle during ascent, giving engineers a second data source beyond the ground imagery the weather is currently blocking.
Booster 20 will attempt a boostback burn and a splashdown landing burn in the Gulf of America, while Ship 40 follows a suborbital trajectory toward a landing in the Indian Ocean. The flight plan largely mirrors Flight 12, though the booster will run a more aggressive ascent burn after max Q this time, and the ship’s heat shield includes load sensing tiles meant to measure stress at the higher dynamic pressure SpaceX is targeting.
If Friday’s attempt succeeds, Flight 13 could be the last suborbital test in the program. SpaceX is already looking to push for an orbital flight on Flight 14.
Investor's Corner
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.