-- Connecting the dots between our economy, government and business --
Stellantis still plans to reopen its shuttered assembly plant in Belvidere, Illinois, but it has canceled its plans to bring in a new electric vehicle battery facility and parts hub to the state, Matt Frantzen, president of UAW Local 1268, said in an email to Automotive Dive.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
This *might* have something to do with the sudden, yet completely expected reversal:
“Stellantis reported a 48% decline in revenue in North America in the first half of 2024. The company’s net profits also declined by 70% for the year. The automaker also reported a negative 6 billion euro free cash flow largely due to declines in income and increase in capital spending to launch new models.”
That and customers don’t want impractical electric cars.
Dem green promises made, Dem green pie in the sky promises not kept. Par for the course.