The South Korean companies’ announcement builds on a three-month-old partnership to produce batteries at the same location west of Savannah, where Hyundai intends to begin EV production in 2025.

The development increases the firms’ overall investment in the Georgia factory to more than $7.5 billion and the site’s anticipated employment to 8,500.

Additionally, Hyundai said it would invest $5.5 billion in 2022 to build EVs and batteries on 2,900 acres in the Ellabell neighborhood.

According to Hyundai spokesperson Michael Stewart, the increased investment and jobs announced do not indicate that the battery plant will create more batteries. The joint venture’s original capacity of 300,000 EV batteries per year is still the expectation of the business’s plant. Stewart’s email asserts, “The plant does have the potential to expand depending on market conditions and demand,” it adds, “Hyundai remains very optimistic about the transition to EVs.”

Hyundai’s first U.S. plant dedicated to EV manufacturing was hailed as the most significant economic development project in Georgia’s history when it was first announced in 2022. Georgia Governor Brian Kemp praised Hyundai and LG’s new investment in the facility. He added, “Today, we’re building on that success as we continue to make Georgia the e-mobility capital of the nation.”

According to Jessica Atwell, a spokeswoman for the state Department of Economic Development, Georgia and local governments will provide further incentives. She clarified that those would only be made public once the paperwork is complete.

The post Hyundai and LG will invest an additional $2 billion at Georgia EV plant appeared first on CBT News.

On August 28, the federal office reported the trademark application is specifically for “Motor vehicles such as gas, EVs, pickup trucks, sports utility vehicles, and their structural parts.” 

Although there is no way to know for sure what the new trademark will be used for, we can assume that it has something to do with Project T3, Ford’s brand-new all-electric pickup truck that will be unveiled in 2025 and manufactured at the company’s Tennessee site in BlueOval City.

Jim Farley first referred to the new zero-emissions pickup as “different” and said that while it might not appear like a truck, it will function like one. In March, Farley stated, “We’ve challenged ourselves to build a truck people can trust in the digital age. This vehicle will be upgradable in terms of software. To improve your truck, we’ll send software to it every day, every week, every month, and every year.”

Another cool feature of the new yet-to-be-seen Project T3 pickup, which means “Trust the Truck,” is the ability to export power from the high-voltage battery at much higher rates than is currently available in the F-150 Lightning, which can provide up to 9.6 kilowatts of power through the Pro Power Onboard system and its 11 outlets.

In addition, Farley compared the new electric truck to a “Millennium Falcon with a porch attached,” alluding to the technology and speed of the venerable Star Wars sci-fi spaceship. The CEO’s statement referenced a vehicle that is “impossibly quick.”

The post Ford registers F-200 trademark, possibly for future EV truck T3 appeared first on CBT News.

Dealers are seeing more inventory- meaning their lots are filling back up. In fact, the Matt Bowers Auto Group, based near New Orleans, Louisiana, has had several stores lead their markets in a new volume in May. On today’s Inside Automotive, we’re joined by Matt Bowers, Owner of Matt Bowers Auto Group, to discuss the new volume and other business happening for the group.

Bowers began selling cars, all while in law school. But, due to the opportunity he saw within the industry, he knew the industry was a better fit. Bowers states, “I worked, saw opportunities, and continued to progress.” The way Bowers sees it, if you perform at a high level, and you don’t remove yourself from conversations that don’t bring influence, and if you have the talent and mobility, then the right people will find you. The industry is mixed with trial and error, but if you can spot the opportunity and get into the right conversations, you’re headed in the right direction. 

Customer Experience

Growing up in the industry, Bowers was made to believe, “The facility should be used as the utility of the operating business.” But as the world continues to evolve, so has branding. In addition, “The revenue over the last few years has substantially grown. Therefore, dealers must have the best avenues to reach their customers,” asserts Bowers. In addition, the whole operation’s standards have risen. Therefore, he claims, “It would be best to make yourself and your dealership accessible through various channels to meet customers where they are.” 

Operations 

As it exists today, inventory is different. It’s different by OEM, market, and by model. Bowers notes, “Some models are readily available and some that customers prefer.” However, “It differs by brand.” The other part of inventory deals with pricing. Inventory fluctuates due to customers being unable to afford their car payments, and dealers can’t afford to keep the vehicles on the lots. But, if dealers represent a brand in a large metro market, they will support sending cars to customers where they live. Ultimately, Bowers asserts, “I am in a position where the OEMs are supplying me with a 60-day supply, but I’m also not seeing where I have too many cars.” For example, Bowers recently built a stand alone Jeep facility in Baton Rouge. It’s a part of an incredible investment in part of it’s reliability for the well-known brand. 

Electric vehicles

Bowers has met with several dealers; some want to promote EVs, while others are hesitant. This holds true from Southeast Louisiana to Metro Nashville and even the Florida Gulf. There isn’t enough demand. Bowers gives the following example: “I think we will be in demand one day, but as of right now, I was driving past a woman and her child on the interstate in Baton Rouge, but I couldn’t run and get them a gas canister to fill their tank; instead, the family had to wait for a tow truck just to get a charge.

The post Enhancing your dealers’ brands to reach your customers where they are — Matt Bowers | Matt Bowers Auto Group appeared first on CBT News.

Inside Automotive 

Enhancing your dealers’ brands to reach your customers where they are — Matt Bowers | Matt Bowers Auto Group
Dealers are seeing more inventory- meaning their lots are filling back up. In fact, the Matt Bowers Auto Group, based near New Orleans, Louisiana, has had several stores lead their markets in a new volume in May. On today’s Inside Automotive, we’re joined by Matt Bowers, Owner of Matt Bowers Auto Group, to discuss the new volume and other business happening for the group. Watch the full segment here

Top stories

Following extensive negotiations, Ford made a significant offer on the upcoming contract, which provides hourly employees with 15% guaranteed combined wage increases, lump sums, and better benefits over the contract’s term. In a statement attributed to Jim Farley, “Ford has surpassed its obligations to invest and add employment throughout the last three contracts.” Read More

According to UAW President Shawn Fain, the National Labor Relations Board, NLRB, has received complaints from the United Auto Workers accusing General Motors and Stellantis of unfair labor practices for failing to bargain with the union in good faith or on time. Fain branded the negotiation stance of GM and Stellantis as “Insulting and counterproductive” in a Facebook Live update to union members. Read More

Tesla has reduced the cost of its Full Self-Driving software by $3,000, from $15K in the U.S. to $12K. Although North America did not receive the same formal Model 3 refresh announcement as Europe, it did experience a significant decrease in the cost of FSD. Thanks to the refreshment of vehicles, the Model S base price is now $3,500 cheaper, and the Model X is $8,500 more affordable. Read More

For Dealers 

Is there a disconnect between your service managers and technicians? Here’s how to fix it
Strong connections between service department managers and technicians are vital on two fronts: productivity and customer satisfaction. But sometimes poor communication, lack of training, and other factors impact workflow and the fixed ops bottom line. Let’s explore what causes this friction and how to smooth things over to foster teamwork and camaraderie. Read More

Tips to help spot identity and income verification fraud
With the gloomy economic forecasts that are flooding every media outlet daily, criminals are finding an easier environment to be able to pull off different types of fraud in dealerships nationwide. Read More

The post Ford’s UAW contract proposal, Tesla continues price cuts, UAW files charges against GM and Stellantis appeared first on CBT News.

Fain branded the negotiation stance of GM and Stellantis as “insulting and counterproductive” in a Facebook Live update to union members. However, GM and Stellantis expressed astonishment at the filing and denied the allegations, Reuters reports.

Gerald Johnson, the head of global manufacturing at GM, said, “We believe it has no merit and is an insult to the bargaining committees. We have been intensely focused on engaging in direct and sincere negotiations with the UAW and are moving forward.”

According to Johnson, the union has made nearly a thousand demands.

Despite not receiving the file yet, Stellantis stated it is “shocked by Mr. Fain’s claims that we have not bargained in good faith.” Additionally, Stellantis noted via email, “This is a claim with no basis in fact, and we are disappointed to learn that Mr. Fain is more focused on filing frivolous legal charges than on actual bargaining. When the time comes, we will strongly defend against this accusation, but for now, our main priority is to carry on with our sincere negotiations for a new contract. We won’t let Mr. Fain’s strategies divert us from our pressing task of securing the future of our workforce.”

The tension is the latest sign of the pressure stemming from negotiations. The union and Fain have made significant demands, including a 40% pay raise over four years and the restoration of benefits that workers gave up around the time of the Great Recession. The automakers have warned that they cannot grant the employees everything they desire and still compete with non-unionized automakers like Tesla.

The NLRB complaint does not name Ford, which claims to have given a “substantial” and “generous” contract offer with increased benefits and the most significant wage raise for UAW employees since 1999.

The post UAW files unfair labor practice complaints against GM and Stellantis appeared first on CBT News.

Thanks to the refreshment of vehicles, the Model S base price is now $3,500 cheaper, and the Model X is $8,500 more affordable. Beyond that, the current “base model” features a larger battery with an estimated EPA range of 348 miles for the X and 405 miles for the S. Additionally, The base price now includes all paint colors, so you aren’t restricted to just one “standard” paint color. As a result, you can select between white, black, grey, blue, or red for free.

However, the Inflation Reduction Act allows only vehicles with MSRPs below $55,000 for cars and $80,000 for trucks and SUVs to be eligible for the $7,500 tax credit. The Model S and X were previously over that threshold; the S is still above, but the X is now below the SUV cap. This implies that specific consumers can obtain an X for less money than an S, provided that.

On the other hand, the EV makers’ software’s capabilities saw some substantial additions with the release of FSD Beta 10.69. According to the notion, FSD should become more valuable as it improves, increasing the price in the process.

However, Tesla’s configurator currently lists the cost of FSD in the U.S. as $12,000, a 20% discount. The price reduction applies to all Tesla models in the U.S. and is also available in Canada.

The post Tesla lowers the price of Models S/X and FSD in the U.S. appeared first on CBT News.

In addition to the $92,000 wages and bonuses, workers would receive $17,500 in health care coverage and an additional $20,500 in the first year, according to a press release.

In a statement attributed to Jim Farley, “Ford has surpassed its obligations to invest and add employment throughout the last three contracts, most notably creating or retaining 5,600 additional UAW-represented positions than the 8,500 we first promised and investing $1.4 billion more than we initially promised during the 2019 contract.”

At the top compensation rate, full-time permanent Ford employees may earn $98,000 in wages, cost-of-living adjustment bonuses, ratification bonuses, profit sharing, and overtime in the first year. 

“This offer is much better than what employees at Tesla and other foreign manufacturers with U.S. operations earn,” said Farley.

Furthermore, every UAW employee will have the chance to develop their careers with Ford and join the company permanently, earning good middle-class salaries and benefits. Ford’s proposal eliminates wage tiers, accelerates the growth period to reach the top salary rate by 25%, gives temporary workers a 20% pay boost, and gives them the same ratification bonus as permanent workers. This allows all employees to obtain salaries that are among the highest in the industry. Ford employs between 2% and 3% of temporary workers hourly, the lowest among the Detroit 3. 

The post Ford makes significant United Auto Workers contract proposal appeared first on CBT News.

Could you be sabotaging your own success? On today’s episode of CBT Now, we’re exploring the “Upper Limit Problem,” a common problem many of us experience in business with allowing ourselves to enjoy our wins without boundaries. Joining us is Gay Hendricks, the founder of the Hendricks Institute, to discuss his new book, “The Big Leap,” which explores this problem and how to overcome it.

Hendricks asserts that the Upper Limit Problem is the human tendency to bump up against limits in an attempt to grow. In other words, the subconscious self-sabotage that happens when we taste something great. Be it a promotion, financial windfall, a great relationship, or any other means of success. Furthermore, Hendricks notes his work at the institution is geared toward helping people spot when they’re “Upper-Limiting” and how to navigate through it.

Key Takeaways: 

1. Take a moment to evaluate if you attribute to the Upper Limit issue by learning how to spot it: Eliminate worrisome, unproductive thoughts that you can’t change. 

2. You get power back when you shift your focus to valuable thoughts instead.

3. Release your need to be right. It will direct conversations away from solutions and add to your upper-limit problem. 

4. Fear is characterized as a trigger from childhood trauma that will hold you back and ensure artificial shyness.  

5. Life is about constantly being open and receptive to receiving positive energy. It keeps your attention on everything inside, where everything starts; the shine you already have.

The post How to identify and fix the ‘Upper Limit Problem’ – Gay Hendricks | Hendricks Institute appeared first on CBT News.

CBT Now 

How to identify and fix the ‘Upper Limit Problem’ – Gay Hendricks | Hendricks Institute
Could you be sabotaging your own success? On today’s episode of CBT Now, we’re exploring the “Upper Limit Problem,” a common problem many of us experience in business with allowing ourselves to enjoy our wins without boundaries. Joining us is Gay Hendrick, the founder of the Hendrick Institute, to discuss his new book, “The Big Leap,” which explores this problem and how to overcome it. Watch the full segment here

Top stories

New car owners are now spending an average of $12,182 a year on their vehicles, according to data from the American Automobile Association (AAA). The costs of vehicle ownership have risen significantly since the onset of the COVID pandemic. During 2019, AAA reported that new car owners were spending $9,282 a year, which at the time was the highest since the association began tracking consumer spending. Read More

Electric vehicle brand Polestar continued to lose money in the second quarter but still expects to achieve its annual delivery target thanks to a strengthening sales pace. The Volvo-owned EV maker published its quarterly earnings on Thursday, August 31, revealing a net loss of $304 million. The electric vehicle brand previously announced it had sold roughly 15,765 units between April and June, a year-over-year growth of 36%. Read More

Production at General Motors Fort Wayne, Indiana, light-duty truck assembly will be closed until September 8 due to unidentified supply constraints. According to Dennys Pimeta, Fort Wayne’s Plant Executive, wrote to employees, “GM is aggressively working with our supplier to overcome the challenges that have occurred so we can start producing the vehicles that are in high demand with our dealers and consumers.” Read More

Due to a potential break at the base of the trunk latch, which would make it impossible for the trunk to open from the inside, the South Korean automaker, Kia, is recalling nearly 320,000 Rio, Optima, Optima Hybrid, and Optima Plug-in Hybrid vehicles. According to the latest National Traffic Safety Administration, the recalled cars “Fail to comply with Federal Motor Vehicle Safety Standard requirements.“ Read More

For Dealers 

Evaluating the long-term costs of electric vehicles: pros and cons
Electric vehicles are a different breed of mechanical knowledge. Does that mean electric vehicles cost more or less in the long run? This is an interesting question many car buyers deciding between a gasoline engine and a battery-powered engine have been facing and one that many will face in the near future. Let’s find out! Read More

Weekly roundup: UAW members vote to strike pending negotiations, Ford discontinues 3 gas-powered models
Earlier this week: Nissan is accelerating its plans to go electric, with plans to release 27 electrified models by 2030. The UAW has voted in favor of a strike should negotiations with Detroit 3 car manufacturers fail to produce an acceptable contract by the upcoming deadline. Hyundai unveiled its own advanced charging network in South Korea with a capacity of 350 kW.  Read More

The post Car owners spending records on new vehicles, Polestar reports quarterly loss, GM’s truck facility closes appeared first on CBT News.

According to the latest National Traffic Safety Administration, the recalled cars “Fail to comply with Federal Motor Vehicle Safety Standard requirements.” In addition, the report states that a person in the trunk “May become trapped, increasing their risk of injury.” 

Owners will receive notification letters in the mail from Kia by October 19. The NHTSA advised customers to return their cars to Kia dealerships, where they would replace the trunk latch base subassembly at no cost.

The specified affected vehicles are as follows:

• 2016-2017 Rio
• 2016-2018 Optima
• 2017-2018 Optima Hybrid
• 2017-2018 Optima Plug-in Hybrid vehicles

Car owners can check USA TODAY’s automotive recall database or search NHTSA’s database for new recalls. The NHTSA website also allows you to search for recalls based on your vehicle identification number or VIN.

Call 1-800-333-4542 to reach Kia customer support. Kia’s recall number is SC278.

The post Kia recalls roughly 320,000 vehicles due to faulty trunk latch appeared first on CBT News.