Hyundai has announced that it will raise factory worker pay by 25% after UAW’s historic strike wins, where it earned 25%+ pay increases at all of the Big Three American automakers. After Toyota and Honda did the same recently, this shows how union wins tend to affect entire industries, raising conditions for even nonunionized companies who have to compete for workers.
The news today comes from AP, who reported Hyundai will increase factory worker pay 25% by 2028. The pay increase roughly matches the increase in base factory worker pay won by UAW in its negotiations, though Hyundai didn’t add any details about additional cost-of-living adjustments or faster progressions to the top wage – two major points of the new UAW contract.
Hyundai COO Jose Munoz said “Hyundai continuously strives to maintain competitive wages and benefits commensurate to industry peers.”
But this isn’t the only similar announcement from a nonunionized company. Last week, Honda raised wages of some workers by 11%, along with a faster progression to the top of the wage scale and additional benefits like child care and student loan help. Honda said it “continuously reviews our total rewards packages to ensure we remain competitive within our industry.” The company also said “we will continue to look for opportunities to ensure that we provide an excellent employment experience for Honda associates.”
Prior to that, Toyota took the opportunity to hike the pay of most of its US assembly workers by 9.2% immediately after the UAW deals were announced. After Toyota’s pay hike, UAW President Shawn Fain recognized that it was a response to his union’s new contract, saying, “Toyota, if they were doing it out of the kindness of their heart, they could have chosen to do it a year ago.”
Fain called these wage increases the UAW bump and said “UAW, that stands for ‘U Are Welcome’.”
UAW wants to maintain this momentum and has openly stated that it wants to unionize more nonunionized companies in the US. In UAW’s victory announcement, Fain said that it plans to come back to the bargaining table in 2028 on May 1, otherwise known as May Day or International Workers’ Day, but that time, it “won’t just be with a Big Three, but with a Big Five or Big Six.”
At the time, he didn’t specify who exactly those extra two or three companies would be, but later, plenty of company names have come up. Last week, President Biden said he would support UAW’s push to unionize Tesla and Toyota ahead of a meeting with Fain, with Honda’s pay raise announcement coming right after that well-publicized meeting.
Much of union popularity has been driven by COVID-related disruptions across the economy, with workers becoming unsatisfied due to mistreatment (labeling everyone “essential,” companies ending work-from-home) and with the labor market getting tighter with over 1 million Americans dead from the virus and another 2-4 million (and counting) out of work due to long COVID.
Unions have seized on this dissatisfaction to build momentum in the labor movement, with unions striking successfully across many industries and organizers starting to organize workforces that had previously been nonunion.
Announcements like Hyundai’s, Honda’s, and Toyota’s show how high union membership has a tendency to improve working conditions for every worker and why the US has had gradually lower pay and worse conditions over the decades since union membership peaked. It’s really not hard to see the influence when you plot these trends against each other.
It’s quite clear that lower union membership has resulted in lower inflation-adjusted compensation for workers, even as productivity has skyrocketed. As workers have produced more and more value for their companies, those earnings have gone more and more to their bosses rather than to the workers who produce that value. And it all began in the 80s, around the time of Reagan – a timeline that should be familiar to those who study social ills in America.
Conversely, these two actions show the impact that unionized workers can have not only for their own shops but for nonunionized workplaces as well. If workers gain a big pay increase in one part of an industry, all of a sudden, workers at other companies might start thinking they want to jump ship, maybe move over to another company where they can get better pay or better conditions. To retain workers, companies then need to raise wages.
In addition, nonunionized companies may want to keep their employees nonunionized and thus see the pay raises as a way to satiate their employees into maintaining the status quo. If workers at Toyota see that UAW workers are getting huge pay increases and lots of additional benefits, maybe they’ll think that UAW can bring them the same benefits and start talking about unionizing.
Companies generally think they should avoid having a unionized workforce because a unionized workforce means more pay for workers, which to them means less pay for the executives and shareholders making the decisions. So they’ll offer whatever carrots they can to keep workers from organizing to have their voices heard collectively. Individually, workers have little influence over what their pay and conditions should be.
All of this isn’t just true in the US but also internationally. If you look at other countries with high levels of labor organization, they tend to have more fair wealth distribution across the economy and more ability for workers to get their fair share.
We’re seeing this in Sweden right now, as Tesla workers are striking for better conditions. Since Sweden has a 90% collective bargaining coverage, it tends to have a happy and well-paid workforce, and it seems clear that these two things are correlated. And while that strike is continuing and we haven’t yet seen the effects of it, most observers think that the workers will eventually get what they want since collective bargaining is so strong in that country.
These are all reasons why, as I’ve mentioned in many of these UAW-related articles, I’m pro-union. And I think everyone should be – it only makes sense that people should have their interests collectively represented and that people should be able to join together to support each other and exercise their power collectively instead of individually.
This is precisely what companies do with industry organizations, lobby organizations, chambers of commerce, and so on. And it’s what people do when sorting themselves into local, state, or national governments. So naturally, workers should do the same. It’s just fair.
And it’s clear that it helps – so even if you aren’t unionized yourself or have a job that doesn’t lend well to unionization, you should probably be happy about other union efforts since they tend to buoy entire economies for the people who are creating the value in the first place: the workers.
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Jackery launches Explorer 600 v2 640Wh LFP power station and a solar bundle starting from $380
Jackery has launched the next of its second-generation remodels, with the Explorer 600 v2 Portable Power Station at $379.99 shipped. This all-new unit will carry a full price of $500 once these initial savings die down, with no sign of its availability on Amazon yet. The deal here gives you a 24% markdown off its full rate, cutting $120 off the tag and setting the bar for future discounts in coming months. Alongside the solo station option, you can also pick up the station with a 100W portable solar panel for $579.99 shipped, down from $699.
As we’ve been seeing with other models under Jackery’s flag, this new Explorer 600 v2 station comes as an upgraded descendant of the Explorer 600 Plus, with a slightly bigger 640Wh LiFePO4 battery capacity within a compact unit that is perfect for carrying with you on short-term trips away from home. You’ll get up to 500W of steady power (1,000W surging peak) through the six output ports to cover devices: two ACs, two USB-Cs, one USB-A, and a cigarette lighter port. While its predecessor is rated for 4,000 charging cycles, this new revamped model brings a higher 6,000-cycle lifespan alongside a 5-year warranty, so you’ll definitely be getting your money’s worth.
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You’ve got three primary means to recharge the Jackery Explorer 600 v2’s battery. The first, of course, is with a standard AC outlet that will have it back to full in an hour’s time, or you can utilize up to its max 200W solar input for solar charging – which the bundled 100W panel can have back to full in 6.5 hours. Lastly, you can get on-the-go charging plugging it into your car’s auxiliary cigarette lighter port, which takes a little over six hours to put back to 100% from empty.
Anker’s Halloween Sale returns the new SOLIX F3000 power station to its $1,399 Prime Day low
As part of Anker’s ongoing SOLIX Halloween Sale, we spotted returning low prices on the brand’s new F3000 Portable Power Station and bundles starting from $1,399 shipped, after using the code SOLIXHAW03 at checkout for an additional $100 off, beating out Amazon’s pricing by $70. Normally going for $2,599 when at full price since hitting the market in June, we saw this low rate first appear two weeks ago during the brand’s Prime Day Sale and continuing with the event’s extension, which ended last week. Now, with its latest sale going, Anker is giving folks another shot at the best price we have tracked, cutting $1,200 off the tag. Head below for the full lineup of this station’s bundle deals.
Govee’s Matter Outdoor Lamp Post can join your yard detail for a $300 low
Through its official Amazon storefront, Govee is offering its Matter Outdoor Lamp Post at $299.99 shipped, which also matches the price directly from the brand’s website. It was brought down from its $430 full price two weeks ago during the Prime Day event to this rate, which has been sticking around in the time since, giving you plenty of opportunity to pick one up for your yard. You’re looking at the lowest price we have tracked on this newer lighting device, which only fell to this rate once before in July.
Enjoy commutes and/or joyrides down streets or off-road on Rad’s RadRover 6 Plus e-bike for $1,399
As part of its ongoing Haul-o-ween Sale, Rad Power Bikes is offering a solo price cut (as opposed to bundles of FREE gear) on the RadRover 6 Plus Fat Tire e-bike to $1,399 shipped. This popular model would normally run you $1,599 at full price, with discounts over the year having mostly dropped the cost between $1,399 and $1,299, though we have seen some rare falls further to the $1,199 low. It may not be the lowest price, but you’re still looking at a solid $200 slashed from the tag for the third-lowest price we have tracked.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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The Recon EV will be revealed in full soon. Jeep’s CEO shut down rumors that the Wrangler-sized electric off-roader was dead, saying the Recon EV will go on sale shortly.
Jeep’s electric off-roader will go on sale in Spring 2026
Although the Recon was initially set to debut in 2023 with sales starting the following year, don’t count it out just yet.
Bob Broderdorf, who took over the reins as Jeep’s new CEO in February, says rumors that the electric off-roader has been cancelled are far from true.
In fact, Jeep plans to sell it, even if you don’t want it. According to MotorTrend, Broderdorf is promising more details on the Recon EV are coming soon with sales kicking off next spring.
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With Stellantis shaking up electrification plans, speculation began to spread that the Jeep Recon EV would be next to get the axe. Luckily, it doesn’t look like that will be the case.
Jeep first unveiled the Recon EV as a concept in 2022, promising the electric off-roader would be not only be able to tackle the Rubicon trail with enough charge to get back to town and recharge. It’s not a replacement, but the Recon is “inspired by the legendary Wrangler,” according to Jeep.
Jeep Recon EV (Source: Stellantis)
The Recon will be Jeep’s first true off-road EV. Leading up to its official debut, we’ve seen the electric off-roader out in the wild a few times now.
Spy shots of the interior surfaced on JeepReconForum last year, confirming the SUV will feature Jeep’s signature Selec-Terrain traction control system with different modes like “Rock” and “Mud.” The closer it gets to its final form, the more the Recon looks like a Ford Bronco rather than the Wrangler.
Even if it doesn’t sell well, Jeep considers the all-electric Recon as a key model as it looks to corner the off-road market.
Stellantis will build the Recon at its Toluca, Mexico plant alongside the Wagoneer S, Jeep’s first electric SUV in North America. The Jeep Cherokee and Compass are also built at the facility, all of which share the same STLA Large platform.
Jeep Recon Moab 4xe (source: JeepReconForum)
“We can shift and move. It is OK if [Recon] is low volume,” Broderdorf said, adding “If I have to sell more Cherokees, so be it.”
Although Jeep has yet to reveal final specs and prices, the Recon EV is expected to debut with about 350 miles of range. Prices are expected to start at around $60,000, or slightly less than the Wagoneer S. More premium trims, like the MOAB and Rubicon could cost closer to $80,000.
Broderdorf promised more details are coming soon. He also said the company plans to reveal more info on the future Wrangler shortly. Will we see an electric Wrangler? If so, it likely won’t be until the next generation in 2028.
Until then, Jeep will use the Recon EV and Wrangler as a twin threat as it looks to gain control of the off-road market.
Jeep’s CEO sees a market for electric vehicles, in particular the Recon. “We’ve got a great car. We’ve already built it. We should sell it, we should learn. I don’t know how many it will be. I’m not really that worried about it,” Broderdorf said. Even with the $7,500 federal tax credit now expired, Jeep expects EVs to sell in markets like California.
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Tesla (TSLA) will release its Q3 2025 financial results on Wednesday, October 22, after the market closes. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.
Here, we’ll look at what the street and retail investors expect for the quarterly results.
Tesla Q3 2025 deliveries and energy deployment
Even though CEO Elon Musk and his loyal shareholders like to claim that Tesla is now an AI/Robotics company, the reality is that Tesla mostly moves metals.
The company’s automotive business continues to drive the vast majority of its financial performance.
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Tesla’s revenue remains tied mainly to the number of vehicles it delivers.
Earlier this month, Tesla disclosed its Q3 2025 vehicle production and deliveries:
Production
Deliveries
Subject to operating lease accounting
Model 3/Y
435,826
481,166
2%
Other Models
11,624
15,933
7%
Total
447,450
497,099
2%
That’s a record number of vehicles delivered.
Furthermore, Tesla confirmed that it deployed 12.5 GWh of energy storage capacity during the quarter.
Those two record numbers combined should result in Tesla reporting higher revenues.
Tesla Q3 2025 revenue
For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers and now the energy storage deployment data.
The Wall Street consensus for this quarter is $26.457 billion, and Estimize, the financial estimate crowdsourcing website, predicts a lower revenue of $26.266 billion.
Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:
If Tesla meets or beats expectations, it would report higher quarter revenue than ever before.
Tesla Q3 2025 earnings
Analysts are trying to estimate Tesla’s gross margin with a first positive reversal in deliveries this year.
For Q3 2025, the Wall Street consensus is a gain of $0.55 per share and Estimize’s crowdsourced prediction is a little higher at $0.57.
Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:
As you can see, Tesla’s estimated record revenue is not expected to translate into record earnings, as the company has reduced prices in response to increased competition.
Tesla reported earnings of $072 per share during the same period last year.
In short, analysts are expecting Tesla’s earnings downtrend to continue despite record revenues.
Other expectations for the TSLA shareholder’s letter, analyst call, and special ‘company update’
I think we should expect a very bullish management call in Q3. We have been reporting on this for a few months on Electrek, but Tesla pushed its shareholders meeting, which is generally held in the summer, to the first week of November for good reason.
Tesla knew that the end of the tax credit would result in demand being pulled forward into Q3, leading to a strong Q3. Even though it will mean a few very difficult quarters afterward, the company will take the time to boast about it just before shareholders vote on management through Musk’s compensation package and a few board seats in two weeks.
However, I would also expect Wall Street analysts to ask a few questions about how Tesla is expected to perform in the next few quarters, given the incentives and credits in the US.
Tesla will also take questions from retail shareholders based on the most popular ones on Say. Here are the top 5 questions and my thoughts on them:
What are the latest Robotaxi metrics (fleet size, cumulative miles, rides completed, intervention rates), and when will safety drivers be removed? What are the obstacles still preventing unsupervised FSD from being deployed to customer vehicles?
Musk has been wrong about self-driving timelines for a decade now, and he manages to get away with it thanks to a very lenient shareholder base that likes it when he pumps up the stock with hyperbole and crazy predictions.
However, the shorter the timeline, the harder it is to let this slide. Musk said that Tesla Robotaxi would cover half the US, and it would remove supervisors by the end of the year.
The only way this is possible is if “Robotaxi” is what Tesla launched in the Bay Area, meaning Tesla employees in the driver’s seat using FSD. If Tesla does remove the supervisor, I believe it will only be in Austin and with a lot of limitations and remote monitoring.
What is demand / backlog for Megapack, Powerwall, Solar, or energy storage systems? With the current AI boom, is Tesla planning to supply power to other hyperscalers?
I think people should expect Tesla’s growth in the energy sector to slow and stabilize at around 18 GWh next year, which is still impressive, by the way.
What are the plans for new car models? Will Tesla build compact car models leveraging the unboxed Cybercab platform? Will Tesla build a traditional SUV and pickup truck in the Cybertruck platform?
Generally, Tesla doesn’t answer those kind of questions during an earnings call, but I think management will try to pump the best they can ahead of the shareholders meeting.
Furthermore, after the flop that was the stripped-down Model Y and Model 3, I wouldn’t be shocked if Tesla revives plan for the compact car even though Musk poo-pooed it quite a bit over the last year.
What are the present challenges in bringing Optimus to market considering app control software, engineering hardware, training general mobility models, training task specific models, training voice models, implementing manufacturing, and establishing supply chains?
As we have been reporting for the last few months, the Optimus program is in shambles. I expect Musk to confirm delays in the production ramp. He previously said that Tesla would build about 5,000 Optimus robots in 2025. I think he will delay that, but he will reiterate some ridiculous long-term goals.
What is your projection for when FSD will allow for unsupervised driving?
He literally said by the end of the year a few months ago. He said that every year for the last 6 years. I don’t know why anyone cares to have his opinion on it at this point.
As you can see, most questions from retail investors concern Tesla’s future products and Elon’s predictions about their impact.
Meanwhile, earnings are declining because Tesla’s once-incredible core business of selling cars is rapidly deteriorating.
Tune in with Electrek after market close today to get all the latest news from Tesla’s earnings, conference call, and now also an apparent “company update.”
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