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Biden to meet with UAW president, tout Stellantis plant reopening
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(Reuters) — President Joe Biden on Thursday will meet with United Auto Workers President Shawn Fain and tout the decision of Chrysler-parent Stellantis (NYSE:STLA) to reopen a shuttered assembly plant in Belvidere, Illinois, a White House official said.
Stellantis agreed to build a new $3.2 billion battery plant and invest $1.5 billion in a new mid-size truck factory in Illinois under its tentative labor agreement, the UAW said last week. The labor deals reached with the Detroit Three automakers includes a 25% pay hike, better retirement benefits and other significant improvements through April 2028.
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