Subaru Is Getting Serious About EVs In The U.S.

The company plans to start in-house EV production in Japan from 2025, on a line with capacity for about 200,000 vehicles a year. Subaru will add another line dedicated to EV production in Japan around 2027 with an additional capacity of 200,000 vehicles.

Meanwhile in the U.S., its biggest and most profitable market, Subaru plans to start localized EV production with an eye toward more aggressive EV sales there.

Osaki said U.S. production of EVs would begin in 2027 or 2028.

Subaru was still considering the production site, while taking into account battery procurement and EV supply chain logistics, he said. In the U.S., Subaru is considering its Indiana assembly site, but it is also looking at other options, including partnerships, Osaki said.

For batteries, Subaru will lean on Panasonic, at least in Japan at first.

“Record profits mean record contracts,” Fain said during his broadcast. “While big execs have used those extreme profits to pump up their pay, our members have fallen further and further behind. ... The rich are getting richer while the rest of us are getting left behind.”

Gone are the days that contracts are won by the president behind closed doors, he said.

Fain sees merit in a 32-hour workweek, he said. COVID-19 has taught people to live life, not work 60 to 80 hours a week. “We shouldn’t have to spend seven days a week, 12 hours a day living in factories.”

Ford Motor Co., GM and Jeep-maker Stellantis can “easily” afford big changes in the upcoming contract that help workers, Fain said. Over the past decade, the Detroit Three have made a quarter-trillion dollars in North American profits. In just the first half of 2023, the three automakers made a combined bottom line profit of $21 billion, the UAW noted.

Fain listed these “audacious” goals:

The guidance upgrade was supported in particular by better than expected results in personalisations, Chief Executive Bendetto Vigna said in a statement, as well as by a strong product mix. Personalisations are the added touches that a customer requests to make the car more suited to their tastes.

The forecast for full-year EBITDA margin, however, remained unchanged at around 38%. The expected cash generation was also broadly unchanged, seen at around 900 million euros versus a previous guidance of up to 900 million euros.

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In the second quarter Ferrari’s adjusted EBITDA was up 32% to 589 million euros ($646.4 million), broadly in line with analyst expectations of 580 million euros, according to a Reuters poll.