New leadership named at Subaru of Indiana Automotive
The company, which has 6,000 employees in the state, has named a new chairman and CEO, and a new president and chief operating officer.
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Job cuts part of Hillenbrand’s ‘restructuring’ plan
Indiana-based Hillenbrand Inc. is planning to launch a program designed to reduce costs and improve operational efficiency after what is being described as a weaker-than-expected performance from one of its primary business segments.
Cummins posts quarterly loss but full-year profit
Cummins posted a rare quarterly loss in the fourth quarter, which was largely due to a previously announced $2 billion environmental settlement. The settlement also reduced the manufacturer’s full-year profit for 2023.
Cummins joint venture selects Mississippi as site for battery plant
The joint venture, which includes Cummins and three other companies, was formed last year for the purpose of building a battery plant for commercial vehicles.
3M begins payments to service members in $6B earplug settlement
3M has started paying out its $6 billion settlement to U.S. service members who say they experienced hearing loss or other serious injuries after using faulty earplugs made by the company at its Indianapolis subsidiary.
UAW members overwhelmingly approve new contract with Allison Transmission
More than 81% of United Auto Workers Local 933 members voted Tuesday to ratify a new employment contract with Indianapolis-based Allison. The members had been working under the terms of a previous contract that expired in mid-November.
What business interests will be seeking in the 2024 legislative session
Reducing health care costs, pursuing tax breaks and preparing the next generation of Hoosiers for the workforce are among the top priorities of business leaders as state lawmakers return to the Indiana Statehouse Monday for the 2024 legislative session.
New vehicle sales rise 12% despite high prices, interest rates, auto strikes
Auto sales had their biggest year-over-year increase in more than a decade in 2023, yet sales still haven’t returned to the numbers seen in the years before the pandemic.
UAW members at Allison Transmission gear up for strike if contract talks don’t progress
The 1,500 members of UAW Local 933 are making plans to walk out at Allison Transmission if the company doesn’t meet the union’s demands.
Electric vehicle models eligible for $7,500 tax credit cut to 13
Narrower criteria reduced the number of qualifying models to 13 from about two dozen, according to federal data. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.
Survey: Indiana manufacturers concerned about possible recession in 2024
Respondents to the survey identified persistent inflation, high interest rates, and a continued shortage of workers among the key challenges for the manufacturing industry.
Cummins agrees to pay nearly $1.7B to settle federal Clean Air Act investigation
Cummins has reached an agreement with the U.S. Department of Justice and will pay $1.675 billion—the largest Clean Air Act settlement in history—to resolve allegations that the company violated the Clean Air Act by installing “defeat devices” in some of its pickup truck engines.
U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says
The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.
Ford cuts electric F-150 plans in ominous sign for EV market
CEO Officer Jim Farley said the robust EV demand the company expected hasn’t materialized because potential buyers are balking at high prices and spotty charging infrastructure.
Honda to give autoworkers 11% raise following UAW’s labor victories
Employees at Honda’s Indiana Auto Plant in Greensburg are among those who will qualify for raises.
With EV sales growth slowing, Stellantis plans gas onboard charger for Ram brand
Stellantis, which has been slow to introduce fully electric vehicles in the U.S., is so confident in the new powertrain’s appeal that it plans to offer it in other vehicles.
New vehicles from automakers planned in contracts that ended UAW strikes
The agreements provide a blueprint for which vehicles Stellantis, Ford and General Motors intend to build in the coming years and where they will do so.
Workers at Ford plant where strike began overwhelmingly OK new contract
Local union leaders from across the country at Jeep maker Stellantis voted unanimously on Thursday to send the contract to members for a vote. General Motors local leaders will meet on Friday.
Cummins announces voluntary staff reductions
Cummins, which reported revenue of $8.4 billion during the third quarter, has 73,600 employees worldwide, including 10,500 in Indiana.
Automakers likely to raise prices in wake of UAW strikes
General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.