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.
The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.
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.
Employees at Honda’s Indiana Auto Plant in Greensburg are among those who will qualify for raises.
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.
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.
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, which reported revenue of $8.4 billion during the third quarter, has 73,600 employees worldwide, including 10,500 in Indiana.
General Motors, Ford and Stellantis are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.
The United Auto Workers provided some information on the deals, including a detailed explanation of the agreement it reached with Ford. The agreement is expected to become the model for later settlements with GM and Stellantis.
A global developer of large-scale solar power plants and battery storage projects is expanding into southern Indiana, the Indiana Economic Development Corp. announced Monday.
The contract with General Motors is similar to those reached by Ford and Stellantis, but there are some differences.
The four-year deal, which still has to be approved by 57,000 union members at Ford, could set the pattern for agreements with General Motors and Stellantis.
An Energizer spokesperson said the Franklin plant “will continue to serve as the central distribution center for our U.S. battery and lights businesses.”
United Auto Workers President Shawn Fain said Friday that while Detroit’s automakers have increased their wage and benefit offers, he believes the union can gain more if it holds out longer in contract talks.
Union leaders want promises from the Big Three automakers that their wave of new electric vehicle battery plants will fall under the UAW’s contract and that workers at those plants will make UAW assembly wages of $32 an hour.
Purdue is hosting the multiday Silicon Summit, which is the latest in a string of activities and announcements the school has been involved in regarding microchips and semiconductors over the past year and a half.
The Derby, England-based company is the third-largest manufacturer in the Indianapolis area with about 4,000 local employees.
Cummins focuses on both hydrogen-powered and battery electric products through its zero-emissions business unit, which does business as Accelera by Cummins. But hydrogen is emerging as the breakout star for the company.
UAW President Shawn Fain told workers in a live video appearance that the companies started gaming the system, waiting until Fridays to make progress in bargaining.
