Elon Musk said demands by the United Auto Workers could quickly bankrupt the big auto makers as the strike by the UAW drew unprecedented support from President Joe Biden.
Musk, the chief executive of electric-vehicle maker Tesla Inc.
TSLA,
on Tuesday unleashed a couple of posts on the social media site X, formerly known as Twitter as chatter swirled around Biden’s UAW picket-line visit, which was described by the White House as the first such move by a sitting U.S. president in modern times.
Meanwhile, former president Donald Trump is scheduled to speak Wednesday at a non-union auto-parts maker in Michigan.
Replying to a comment on X, Musk said, “They want a 40% pay raise and 32-hour workweek. Sure way to drive GM, Ford and Chrysler bankrupt in the fast lane.”
Biden appeared to say “yes” after several workers said “yes” after a reporter asked him if he supported a 40% raise for UAW members. The raise would be over a period of three years.
In a separate posting, Musk replied to another posting on X about wage increases being passed on to the cost of cars and said such moves make “cars unaffordable, which leads to major sales drop, which leads to bankruptcy.”
Ford
F,
GM
GM,
and Stellantis N.A.
STLA,
stocks remain in the spotlight as the UAW strike continues.
Tesla remains a non-union auto maker and a leader in the EV market.
Separately, at least four people picketing in the United Auto Workers strike in Flint, Mich., sustained minor injuries after a vehicle leaving the plant struck them, police said, according to a report by the Associated Press.
Also read: UAW strike: 5 things to know
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