“This is a potential nightmare situation for GM and Ford,” according to Daniel Ives of Wedbush Securities.
“This is a potential nightmare situation for GM and Ford as both 313 stalwarts are in the early stages of a massive EV transformation path for the next decade that will define future success,” Ives said, referencing Detroit’s “313” area code.
Ives said the labor headache gives Tesla an advantage since Musk’s automaker doesn’t have a unionized workforce. Some 13,000 employees of Ford, General Motors, and Jeep-Chrysler’s parent company Stellantis, walked off the job at the stroke of midnight on Friday.“Tesla would be the big winner at the poker table if there is a long-term UAW strike,” Ted Jenkin, the head of the Atlanta-based Exit Stage Left financial services firm, told The Post.Jenkin said that even if the Big Three reach a deal with their workers in the short term, it will have a lasting impact on their balance sheets.
Musk, who derives most of his wealth from the majority stake that he owns in Tesla, weighed in on the UAW strike in a post on X, the social media company once known as Twitter which he acquired last year for $44 billion.“We encourage playing music and having some fun” at Tesla and SpaceX factories, according to Musk, referencing his rocket-launching company.
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