Elon Musk: The strike is driving GM, Ford and Chrysler into bankruptcy

Striking auto workers in the US are demanding a 40% wage increase and a four-day work week. Now they are strongly supported by President Joe Biden.
– The sure way to drive GM, Ford and Chrysler into bankruptcy is the way out, comments Elon Musk.

A major strike by auto workers in the United States is about to enter its third week. Strikes are ongoing in several major car factories. The United States Auto Workers Union is demanding a 40 percent wage increase, a four-day work week and better pension conditions. Now it’s getting help from an unexpected quarter.

President Joe Biden visited Detroit to meet with striking auto workers. And as the first president in the history of the United States, Joe Biden openly supported the attackers when he wore a party hat and gave a speech through a megaphone. President urges striking auto workers to “stick with it.”

– Companies received government support during the financial crisis, you were very generous. And now that companies are making good money, you should be making good money too. You deserve a big raise, says Joe Biden.

However, many warn that the demand for a four-day work week and a 40 percent wage increase could lead to the bankruptcy of major car companies. That profits will be very good is true in the case of cars with internal combustion engines, but companies are losing money in the transition to electric cars. Ford, for example, makes a loss of SEK 340,000 per electric car sold. Ford CEO Jim Farley warns that the company will go bankrupt if the union receives its demands.

Tesla has been singled out as a big winner in the strike, as the company’s factories in Texas and California are not affiliated with the United Auto Workers. After Joe Biden supported the claim, Elon Musk commented for the first time about the strike.
– They want a 40 percent wage increase and a 32 hour work week. A sure way to drive GM, Ford and Chrysler into bankruptcy on the way out, Elon Musk signs X.