Ford pauses EV battery plant
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 26 September 2023
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Tuesday, September 26th, then I'm your host Julie Morgan. |
| 0:12.0 | Ford pumps the brakes on an EV battery plant in Michigan. |
| 0:16.0 | Costco is offering a new health care service |
| 0:19.0 | and a government shut down according to Moody's will be credit negative on the US sovereign rating. |
| 0:24.8 | Ford announced on Monday that it halted construction of a 3.5 billion dollar |
| 0:30.0 | electric vehicle battery plant in Marshall Michigan. |
| 0:33.3 | A spokesperson said that they're pausing work and limiting spending on construction on the project |
| 0:38.6 | until they're confident about their ability to competitively operate the plant. |
| 0:43.6 | The statement went on to say that Ford has not made any final decision about the planned |
| 0:48.6 | investment there. |
| 0:50.0 | The plant was set to begin production of LFP batteries in 2026 and initially employed 2,500 people. |
| 0:57.2 | The Detroit automaker warned over the weekend that there was still significant gaps in its labor |
| 1:02.2 | talks with the United Auto Workers. |
| 1:04.6 | Analysts think that one of the consequences of a much higher pay scale than a new |
| 1:09.0 | UAW contract would be a slower rollout of initiatives on the electric vehicle front. |
| 1:15.0 | No word though if this is directly tied to the strike. |
| 1:20.7 | Costco members can get online visits with a primary care provider for $29 under a deal with |
| 1:26.8 | Sesame, which bills itself as a health care marketplace. |
| 1:30.3 | Sesame does not require an individual to have health insurance. Through Sesame does not require an individual to have health insurance. |
| 1:34.0 | Through Sesame, members can also get virtual care from a mental health professional for 50 bucks more. |
| 1:40.0 | They're also eligible for discounts on the company's other services, such as in-person visits, that their service is for those with high deductible health plans or no coverage at all. |
... |
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