Shares of Tesla Inc. have experienced a four-day losing streak as the anticipated support from the United Auto Workers (UAW) strike failed to materialize. Furthermore, recent reports suggest that the electric-vehicle giant is considering the construction of a battery factory in India.

Since the UAW strike commenced on September 14, Tesla’s stock (TSLA) has dropped by approximately 12%. The strike initially impacted one factory each of Ford Motor Co., General Motors Co., and Stellantis NV. However, last Friday, the UAW expanded the strike to include 38 GM and Stellantis auto-parts distribution centers across 20 states, while making progress in talks with Ford.

Tesla has long been able to resist unionization efforts at its U.S. factories, even paying its hourly workers around 38% less than what workers at the Big Three automakers earn. Consequently, the strike adversely affects major U.S. automakers who are currently investing significant resources in transitioning to electric vehicles. Wall Street analysts view this situation as an opportunity for Tesla to further establish its first-mover advantage in the market.

In addition to the strike, Tesla is reportedly exploring the establishment of a production facility for stationary storage batteries in India. According to reliable sources, Tesla has submitted a proposal to Indian officials and has also been in discussions about constructing an EV-assembly plant in the country. Other nations have also engaged with Tesla recently, including Mexico where the company has received environmental-impact permits for a potential site in northern Mexico.

Despite the recent decline, Tesla’s stock has nearly doubled this year, outperforming the S&P 500’s 12% increase.

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