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The weekly copper price is up on the back of mine supply concerns and China demand
Copper prices were on track to gain a weekly % of?1.5% this Friday. This was due to concerns about mine supply disruptions and signs of active demand from?China, the top consumer. By 0948 GMT, the benchmark three-month price of copper at the London Metal Exchange had risen by 1.2% to $14,473.50 per metric tonne. Yangshan Copper Premium This week, the price of copper in China reached its highest level in four years, after the country returned from its week-long vacation. The Shanghai Futures Exchange monitors copper inventories in warehouses. The end-of-week stock level was 58,744 tonnes, an increase of 20,000 tons over the previous week. Exchange data revealed that copper stocks at the LME registered warehouses fell to a six-week-low of 233.025 tons, after daily outflows totaling 4,700?tons. This was mainly due to warehouses in Taiwan and Hong Kong. Since 2025, copper prices have been supported by the constant transfers of metal to Comex warehouses, especially in the last six months. This is due to uncertainty about potential US import tariffs for refined copper. Comex inventories are at a record high of 711 609 tons. Cash copper contracts ended Thursday with a $97 per ton premium over the three-month contract. Morgan Stanley stated in a report that "any slowdown in US stocks could make the markets feel looser. But China's demand has been resilient, and supply is experiencing significant disruptions." The union representing Antofagasta’s?Centinela mine in Chile has said that the strike will?begin affecting output in November. Antofagasta initially downplayed its impact, but this situation has increased the risk of disruptions at other mines. Aluminium and lead, among other LME metals, rose by 1.1% each to $3,085 a ton and $1,880 per ton. Zinc rose 1.7% to $3.781.50. Tin increased 2.1% to $52,305. Nickel climbed 1.2%, to $15,730.
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AI-related companies drive the majority of third-quarter US earnings increases
US companies will likely deliver a third-quarter earnings surge, and AI-related players, like the stock market rally, are driving most of these gains. Investors are excited about the hyper-growth of AI companies, but they are also concerned about the future of the share price and how long this trend will continue. According to Tajinder dhillon, LSEG’s head of earnings research and equity, analysts expect S&P500 earnings to increase by 31% in the third quarter. Two-thirds will come from the tech sector, including AI giants Alphabet and Amazon.com, as well as Meta Platforms. The S&P 500 reached a new record this week, ahead of earnings season. This is expected to begin unofficially next?week when banks such as JPMorgan Chase or Goldman Sachs report their results. "It is all AI, and to a lesser degree, energy and material, but this is because of geopolitics,"?Sameer samana, the head of global equity and real assets at Wells Fargo Investment Institute. It wouldn't be surprising if 70-80% growth could be attributed tech and AI. The US oil price has risen by roughly 30% during the third quarter due to the ongoing US-Israeli conflict with Iran. Samana pointed out that the?earnings estimates for the third-quarter are among the lowest. Strategists are unsure if the third-quarter growth in earnings can match the explosive growth seen in the second quarter. Most companies beat analyst's estimates and this is likely to continue in the third quarter. LSEG data shows that the S&P 500's earnings grew by 54% in the second quarter, the highest growth since 2021. LSEG data showed that excluding mark-to-market gains from Alphabet and Amazon.com for AI-related investments the growth rate was still about 35%. This is the highest level since 2021. Anthony Saglimbene is the chief market strategist of Ameriprise Financial. He said that investors should be concerned because we're approaching "peak earnings growth" in this cycle. "A lot is this AI trade built on continuing capex spending. Every quarter, as they continue to do so, the hurdle rates and scrutiny get higher." Dhillon, based upon LSEG data, said that earnings for US semiconductor firms, which are among the largest beneficiaries of the AI boom will?have risen by about 136% compared to about 158% during the second quarter. Nick Raich is the CEO of Earnings Scout. Three months ago, we were going 150 miles per hour. Raich stated that the latest reports, including those from Micron Technology, were strong and suggested other companies continue to "reap the benefits." Micron, a chipmaker, forecasted quarterly revenue that was above expectations and said customers had boosted their commitments to its long-term supply agreements up to $32 billion. This week, Google signed a huge power deal with Constellation Energy. Investors will also be paying close attention to the impact of higher interest rates on corporate profits during this earnings season. The US bond yields are rising due to concerns over inflation, high oil prices, and debt problems elsewhere. Samana warned that heavy borrowers such as utilities are at risk.
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Campaign group warns that the new Congress in Brazil poses a threat to environmental legislation
According to a report by the climate advocacy group Observatorio Do?Clima that found almost 70% of elected legislators have no or little interest in environmental issues, Brazil's new Congress will likely pose a greater obstacle to legislation protecting the environment after elections this month. The study examined bills, legislative initiatives, speeches, and public statements made by newly elected and reelected legislators. It concluded that 64 out of 81 senators have demonstrated a "very low" commitment to environmental issues. In the lower chamber, 345 out of 511 legislators were placed in the same category. According to the study, the Liberal Party, which is home to Flavio Bolsonaro (a right-wing senator) who will be facing President Luiz Inacio Lula in a presidential runoff later this month has the lowest environmental credentials of all major parties. Bolsonaro defeated Lula in a first round despite pollsters' predictions, but he didn't get enough votes to prevent a second ballot. The environmental commitment of all 28 senators and lower house members who were elected by the party on Sunday was rated as very low. The study also found that other right-leaning political parties, such as?Novo and Republicanos, Progressistas, and Uniao Brasil showed low support for environmental issues. Observatorio do Clima stated that environmental advocates may face a more 'challenging' political landscape if Bolsonaro, whose previous?comments about climate change caused concern, is elected President. I contacted the parties named but did not receive a response. The group said that proposals to weaken environmental protections, such as measures to reduce protected lands, allow mining on Indigenous land, and ease licensing requirements for environmental matters, could gain "traction" under the new Congress. Suely Araujo is the public policy coordinator for the group. She said, "This image shows four years of hard work by those who are focused on climate and environment issues."
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Trump's comment that Iran can 'take out Los Angeles' was misinterpreted
US President Donald Trump said on Thursday that comments he made about Iran being able to "take out" California cities were misinterpreted. He was referring instead to the need for people to tolerate higher gasoline prices. Trump made these remarks on Monday at a Nebraska political rally, where he talked about the economic sacrifices of Americans during World War II. "Remember that the 'war' is artificial, it costs a lot, but it's worth it," he said. "It is a small price to pay in order to keep the world and our country safe. They could take out an entire city. Let's?take Los Angeles out, let's?take San Diego out. It's a small price to pay and it will be over very soon." California's Democratic Leaders and some Republican colleagues quickly condemned the remarks. Trump stated in a Truth Social posting on Thursday that "a temporary increase in Gasoline prices is a small price to be paid for Iran not having a nuclear weapon." "If you want to see a huge price, can you imagine what would happen if they bombed San Diego and/or Los Angeles?" He continued by saying he loved both cities. Trump has dismissed concerns about cost of living stemming the Iran conflict in the past.
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US to rescind methane policy against oil and gas industry
The US Environmental Protection Agency announced on Wednesday that it would be scrapping the Biden-era regulation aimed at curbing large leaks of'methane' from oil and gas operations. The move is part a broader effort by the Trump administration to reduce regulations, which it claims burden US businesses in its quest to increase fossil fuel production. "Americans should be able to afford heating their homes during the winter and filling up their cars to drive to work." The people who produce the energy cannot?do this when they are burdened by unnecessary burdens," EPA Administator Lee Zeldin stated in a press release after announcing the decision at a meeting with representatives of the oil and gas industries in New Mexico. The "super emitter program" of the EPA requires that companies react when third parties use remote sensing to report suspected methane leaks. After taking office in 2017, the Trump administration?delayed implementing this policy until next. EPA claimed that its proposal to rescind this?rule could save $45 billion a yearly. The oil and gas industry, which is a major source of methane, is responsible for the second largest?cause?of climate change?after carbon dioxide. Environmental groups have criticized the move. In a statement, Mahyar Sorour of Sierra Club's Beyond Fossil Fuels said: "This giveaway is foolish and shortsighted. It reveals to whom the Trump administration works - its political donors."
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US seizes $3 Million in fuel shipments from Cuba as crackdown continue
The US announced on Wednesday that it had seized 90 separate shipments of biodiesel bound to Cuba, worth nearly $3 million. This is the second time this week US authorities have announced the seizure "illegal" fuel en route to Cuba. The Trump administration is continuing to choke off Cuba's energy industry, only allowing small amounts of fuel to be shipped to the private sector on the island in an effort to undercut the Cuban government. Jose Figueroa, Special Agent in Charge of Homeland Security Miami, told Miami reporters on Wednesday that the seized cargo was destined for Enetec, an Enetec-based state-owned fuel firm sanctioned earlier this year by the US. The authorities said that they intercepted fuel shipments at Port Everglades in south Florida and Houston before they left the US. Homeland Security reported that more than 600,000 gallons were seized. Figueroa stated that "an effort of this magnitude to undermine US sanction is not an accident." These actions are aimed at shipments that could benefit the Cuban government through a state controlled entity. Anyone who attempts to undermine US laws to fund, facilitate or profit from such an effort should be put on notice. Cuba's government didn't?comment immediately on the fuel seizure. Cuba's communist-run government has called the Trump administration's blockade of fuel on Cuba "economic war" and "illegal". The blockade has exacerbated the ongoing problems of blackouts, shortages of water and inflation on the island, pushing it towards a humanitarian catastrophe. US President Donald Trump stated openly that his goal is to overthrow Cuba's government with the?blockade & sanctions. Last week, the US Coast Guard announced that they had intercepted in September a large container vessel carrying fuel bound for Cuba. The Coast Guard said that the ship was attempting to evade authorities, and had large amounts of fuel hidden within its ballast tanks. In either case, the US has not disclosed the identities of the exporters.
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Russia claims that Ukraine has struck two nuclear facilities at Zaporizhzhia
The head of Russia's state nuclear corporation said that despite the fact that Ukrainian drones had attacked two facilities at Zaporizhzhia, a Russian-held nuclear power plant in southeast Ukraine, there was no danger to nuclear safety. Alexei Likhachev said that a driver who was delivering food to plant workers had been killed by the drone attack. Likhachev said that a laboratory and a plant for the processing of radioactive waste were targeted. Ukraine has yet to comment on the incident. The plant's management announced on?Saturday that Ukrainian shelling in recent weeks has damaged the external power supply equipment. Electricity is currently provided by emergency diesel generators. The plant does not produce electricity, but it needs two external links for power to cool nuclear fuel. In the first few weeks of the war, which began with Moscow's invasion of its smaller neighbor in February 2022, Russia captured the?plant - Europe's biggest with six reactors. Since then, Moscow and Kyiv accuse each other regularly of military actions that compromise nuclear safety. The International Atomic Energy Agency (IAEA), the UN's nuclear watchdog has repeatedly taken action to ensure a ceasefire surrounding the plant so that repairs could be made to the lines connecting the facility to the main grid. UN monitors are at the Zaporizhzhia and three other plants in Ukraine. Maria Zakharova of the Russian Foreign Ministry wrote on her ministry's website that the West was enabling Ukrainian aggressions by not publicly condemning them. Zakharova wrote that "Kyiv has intensified its shelling of the Zaporizhzhia nuclear plant because Western countries have not responded appropriately to these actions, effectively facilitating new assaults." "Such an attitude toward strikes by the Ukrainian military shows the true 'value' of statements made by representatives of these nations about nuclear and physical safety at international forums."
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The top cases in the US Supreme Court docket
US Supreme Court will hear a number of important cases in its new term, which begins Monday. These include issues like President Donald Trump's Immigration Policies, the ban on assault-style rifles, the financial responsibility of Big Oil for climate change and Republican-backed voting restriction. This is a list of some of the cases that are being argued in the current term. The term runs until the end of June. Big Oil Climate Suit ExxonMobil, Suncor Energy and Boulder officials argued on October 5, attempting to "thwart" a lawsuit filed by Boulder officials. The Justices grappled with the complex question of whether local governments should be allowed to hold oil companies responsible for harms caused by climate change. After Colorado's highest court allowed Boulder to sue them for violating state laws and seeking unspecified damages, the companies filed an appeal. Trump's administration supported the companies. The justices expressed concerns over unduly restricting the power of states to pursue litigation related to climate change, and the potential for chaos if local government across the nation were allowed to sue these corporations. The ruling is expected to be made by the end June. TRUMP'S MANDATORY DETENTION OF IMMIGRANTS The court will determine the legality Trump's policy, which subjects millions of illegal immigrants living in the US to mandatory detention while deportation proceedings are underway. Trump's policy of mass deportation includes this policy. The Supreme Court heard the Trump administration appeal of a lower-court ruling that ruled against the policy, in a case concerning a Brazilian citizen. The US administration has abandoned its long-standing interpretation of federal laws that allowed immigrants living in the US to be released under bond until their cases were heard in immigration court. Dates for the arguments have not been set yet. The ruling is expected to be made by the end June. DEPORTATIONS TO A THIRD COUNTRY BY TRUMP In December, the justices will hear arguments over the Trump administration’s policy to deport migrants to "third countries", or other nations than their home country. They won't give them the opportunity to demonstrate the harms that they might face. On September 29, the court allowed the Trump administration to continue its policy, suspending a federal judge’s ruling that deporting migrants to third-country countries was illegal. Human rights groups claim that more than 25,000 migrants were deported under this policy to 29 different countries. The ruling is expected to be made by the end June. Ban on assault-style rifles On December 2, the justices will hear arguments in a challenge against state prohibitions of 'assault style rifles. This case involves a weapon type that is often associated with mass killings. The lower courts in Cook County Illinois and Connecticut upheld the bans on powerful semiautomatic weapons such as AR-15s. Lower courts rejected arguments that these measures violated the US Constitution's Second Amendment rights to "keep and bear arms." Gun rights groups, as well as other opponents, have argued that Supreme Court precedents regarding the Second Amendment protect firearms in "common usage." The end of June is the expected date for a ruling. Voting Rights On December 8, the justices will hear arguments in a Republican led bid to reinstate voter restrictions in Arizona. This would require proof of citizenship for all voter registrants, and purge voter lists in Arizona from alleged non-US citizen voters. Republicans appealed a lower court's decision to stop certain provisions of Arizona law for violating federal voting registration laws. The Trump administration has supported key aspects of the appeal. The Arizona measure, according to critics, adds additional mandates for voting which unfairly targets Latinos and Native American voters. These groups tend to support Democratic candidates. The ruling is expected to be made by the end of June. LGBT RIGHTS On November 3, the justices will hear arguments in an appeal by the Archdiocese of Denver, and other Catholic entities, to be exempted of a Colorado program that funds preschools' nondiscrimination requirements. A lower court ruled that Colorado's program didn't violate the First Amendment rights of the Catholic plaintiffs. State funds are provided for preschools. The Catholic plaintiffs objected that the state required schools receiving funding through the program to give all children an "equal chance" to enroll in pre-school, regardless of certain characteristics. This included the sexual orientation of students and their families. The ruling is expected to be made by the end June. EPIC GAMES SUE AGAINST Apple Apple will try to avoid being found in contempt by the justices in its legal battle with Epic Games, the maker of "Fortnite". The iPhone maker had been found to be in violation of an order from a court ordering sweeping changes in its lucrative App Store as part the antitrust litigation. Apple appealed the ruling of a lower court that upheld a federal judge's decision in Oakland, California finding Apple in contempt for Epic's lawsuit against App Store fees. Dates for the arguments have not yet been announced. The ruling is expected to be made by the end June. PEPSICO TRADEMARK CASE The court will hear arguments regarding a claim by Rise Brewing, a maker of canned coffees, to hold PepsiCo responsible for an alleged trademark violation involving Pepsi’s morning energy beverage "Mtn Dew Rise." Rise Brewing appealed the ruling of a lower court that rejected the company's claim the name "Mtn Dew Rise," infringes on its trademarks, and confuses customers with its coffee brand. No date has been set for the arguments. The ruling is expected to be made by the end June.
Special Report-How Trump's War on EVs derail America's Auto-factory Revival
Three men were chatting in the local United Auto Workers' hall of Lordstown on a Friday afternoon, May. Normaly, they would be working at the battery plant just a few minutes away. They had been unemployed for the entire year.
Last fall, the factory owned by General Motors in South Korea and LG Energy Solution announced that it would stop production in January due to slow sales of electric vehicles. Ultium Cells' joint venture let go 480 workers indefinitely and informed the remaining 850 that they would not be needed for several months.
This announcement comes just a few short weeks after President Donald Trump and the Republican-controlled Congress killed a $7.500 tax credit intended to boost consumer demand for electric vehicles, causing U.S. EVs sales to plummet. Steve Baier, a worker who was passing the time in the union hall, described the layoffs as a "sobering disappointment" after the initial bursts of optimism that accompanied the opening of the factory four years ago.
Baier stated that "this plant is important for so many people." "It's devastating."
The gleaming white battery plant, worth $2.3 billion and a distance of an hour from Cleveland, towers over the interstate. The auto industry made its biggest investment spree in decades. The U.S. automotive industry launched a wave of domestic manufacturing between 2019 and 2024, starting with Trump's first administration and continuing through Biden's.
The American auto industry was expected to recover after years of decline with the spending spree. To break free from China's EVs, and supply chains, the U.S. had to have its own EV and battery manufacturing base. Anti-China policies - initiated during Trump's first tenure and continued by Joe Biden - as well as federal EV subsidies in order to support the market, ensured that America would need U.S. workers and plants for its EV transition.
Since Trump's return to office, a?array? of policies affecting the automotive industry, immigration, trade, and environmental protection have undermined employment and factory projects in Lordstown, and throughout America's heartland. Atlas Public Policy's analysis of data shows that cancellations of EV and battery projects have snowballed. This has resulted in the loss or threat of tens thousands of jobs.
Trump's stated goal to create auto-manufacturing employment - the core of his economic vision - is undermined by these policies. Analysts say that these policies are pushing the United States behind Europe and China in developing electric cars.
Fallout is mainly felt in a swath from Georgia to Indiana that has attracted so much EV investment, it was nicknamed the Battery Belt. According to an analysis of Atlas data that tracked activity between 2015 and August 24, this year, 87% of announced EV-related investment was in states Trump won by 2024.
Even before Trump's policies frozen the market, U.S. EV investments had slowed. Automakers were not able to sell as many electric cars as they had anticipated, and some consumers were turned off by the high price tags and range anxiety. Auto executives cited Trump’s policies when they decided to cancel massive investments in battery and EV factories. Ford CEO Jim Farley stated that the drop in EV sales after the tax credits expired last September was "really the motivation for us to take the decision" regarding a massive writedown on EV investments.
Kush Desai, the White House spokesman, did not directly answer questions about Trump's anti EV policies and their impact on employment in auto manufacturing, which has decreased since Trump became president. He blamed the Biden Administration for creating "artificial" demand for EVs through subsidies. Trump is "slashing redtape, renegotiating trade deals that are broken, and cutting taxes" to secure trillions of dollars in new manufacturing investment, including billions by domestic and foreign automakers, Desai added.
Biden's spokesperson declined to comment.
A BOOM REVERSED
According to the Center for Automotive Research which tracked announced project, between 2019 and 2024 U.S. auto manufacturing investments will have more than doubled compared to the previous six-year period.
Under Biden's leadership, the electric transition was partly driven through carrot-andstick measures. These included stricter fuel economy rules for gasoline-powered cars to reduce carbon emissions and billions of dollars in subsidies for battery manufacturing. Automakers were also pushed to take action by market forces. Tesla's stock market valuation was nearing $1 trillion, and startups such as Rivian or China's NIO attracted investors and customers. Automakers pledged to invest heavily in electric cars and battery technology one by one.
James Rubenstein is a professor of geography emeritus at Miami University of Ohio. He said that unlike previous U.S. auto factory booms, the EV manufacturing industry promised a deeper base of industrial production and an expanded supply chain. This would require a change in the type of factories required. For example, it wasn't feasible to renovate an engine factory to make batteries. It was necessary to make entirely new capital investments.
Atlas data shows that last year nearly $20 billion in projects were cancelled. The Atlas data show that fresh investment announcements were only $6.5 billion in the last year, just 29% less than the previous year and a fraction the $55 billion pledged by the industry at its peak.
Rubenstein stated that "Electrification has been a major disruptor in our lives." He said that Trump's rollbacks "push" it back.
Atlas data shows that the projects cancelled between January 2025 to August this year promised 27,000 jobs. This is likely an underestimate, as some of the project announcements in the data did not include job creation estimates. The total excludes projects which were scaled down rather than cancelled, as well as those in which the EV component of a larger investment could not be isolated.
The analysis revealed that four-fifths (or about 45%) of the cancelled investments were located in states with a red color.
Since Trump's return to office, auto-factory investment in gasoline vehicles has increased. This may offset some of these losses. The Atlas?data do not quantify the jobs and investments which may be created by converting canceled EV project to traditional automotive factories. Some automakers have moved foreign factory work into U.S. factories with spare capacity in order to avoid Trump's Tariffs.
To date, however, neither the tariffs imposed by the administration nor automakers' efforts to retool idle plant space have resulted in a net increase in jobs. Federal data shows that since January 2025, U.S. jobs in the auto manufacturing industry have decreased by 1.3%. In August, they were at 963,000.
The president, along with other Republicans, have hailed their anti-EV policy as a victory of consumer choice. Trump wanted to reverse the rules that he claimed would force Americans into buying electric cars or what he called an "EV mandate". Under Biden, automakers were required to sell roughly half their cars as EVs in early 2030s despite there being no imminent ban on combustion engine cars. Trump has repeatedly urged the expansion of U.S. oil and gas production.
The automakers are offering some hope to the laid-off workers of battery plants, for reasons unrelated to EV demand or Trump’s auto policy. There is a growing appetite for energy storage batteries due to the boom in AI- and data-center-construction. Ford, GM, and their joint venture partners have stated that they intend to convert a portion of their underused EV plants to storage.
It can still take automakers months or even years to convert plants that make EV batteries into those for storage. This is because the chemistry of these batteries often differs. The demand for storage batteries will not be enough to fill the unused factory space for EVs.
WORKERS INDUCED IN "VOLTAGE VALLEY"
Lordstown is used to the ups and downs of the?car business. The GM assembly plant, which was a major economic engine for the area for over 50 years before closing in 2019, is no longer there. This area has been a popular campaign stop for many politicians, including Trump, Biden and Barack Obama. Hillary Clinton, John McCain, and Mike Pence have all visited the region, and offered their recipes to revive jobs and prosperity.
A newly elected Trump told a crowd at a rally in 2017, just a few miles from Lordstown that manufacturing jobs would return: "Don't Move." After a period of declining employment at GM, Trump publicly harrassed CEO Mary Barra about the plan to close their assembly plant. Three people who were involved in the decision said that this was a factor in GM's decision.
The GM-LG Battery Factory opened in 2022 within a few miles of the closed vehicle factory. Around 1,300 people were hired to make battery cells for electric vehicles. The area was renamed "Voltage Valley", instead of the historic Steel Valley name.
Baier explained that by 2025 employees would be spending more time cleaning their desks than manufacturing battery cells. Ultium, a joint venture between GM and LG, had announced a six-month return to work timeline when the layoffs were announced in October. This was due to the weak demand for EVs after the tax credit expired.
Ultium has brought back 700 factory workers who were laid off in the last few weeks and began production of battery cells in mid-August. The company reported that about 600 workers are still on an indefinite layoff.
In their statements to GM and Ultium, neither company directly addressed the impact that Trump's policies would have on their EV investments. GM stated that it was "continuing to progress EVs", and it still sells a dozen EVs in the U.S. LG acknowledged a decline in EV sales following the expiration subsidies, but it said electrification is a long-term goal.
Many EV projects and battery factories sprang in places Trump promised to revitalize with factory investment.
Two stark white structures rise from the surrounding farmland in Glendale, Kentucky. Ford, SK On and BlueOval SK, Ford's former partners in South Korea, built the battery plants early this decade.
The buildings are the result of two decades of hard work by Rick Games, 72. He was the former director of the Elizabethtown-Hardin County Industrial Foundation. This economic development agency has worked to promote the site for dozens of potential buyers, including Hyundai.
Automakers' interest in the farmland, located an hour south from Louisville and with easy access to highways and electricity, reached fever pitch by 2020. Games said, "Good God, they were pouring out of the woodwork."
Ford and SK have agreed to invest $5,8 billion in 2021 on a site that is the equivalent of 1,100 'football fields. This was the biggest investment ever made in Kentucky, with a promise of 5,000 new job opportunities. Ford also included it in its largest-ever manufacturing project. It was combined with a Tennessee factory, 300 miles away.
Officials in Glendale, a city of 2,000 people, and its surrounding areas raced to prepare the area for a new influx of over 20,000 residents. The roads would be widened in order to accommodate the construction trucks. The developers planned to build thousands of houses.
Ford and SK went on a hiring spree. Bill Wilmoth recently returned to the area. He began working at the Glendale Battery Plant in June 2024 and earned $21 per hour.
Wilmoth, along with other workers, were asked to stay at home in mid-December 2025. He watched a video from management that announced the layoff of about 1,500 people. "My heart fell a little," he said.
Ford did not provide any information in response to questions about the impact that the Trump administration’s policies changes will have on its EV production. Ford said that it will hire 2,100 people in Glendale, less than half of the original workforce estimate to manufacture energy-storage battery units beginning late 2027.
Ford says it is "prioritizing affordability and choice" by investing in gas-engine and hybrid models. Ford said that 1,500 new factory jobs were added in the last year, ending in July. It also plans to launch its new electric pickup truck called Fathom at the Louisville plant.
SK On representatives and BlueOval SK, which is now defunct, declined to comment on the Glendale job losses.
TARIFFS AND DEPORTATIONS WORKFORCE - WORKBATTERY BATTERY
Auto executives cite the elimination of the $7,500 credit as the most significant policy change that has slowed the EV industry's momentum. This was just one of a series of Trump's pro-fossil fuel measures that has?crippled EVs.
The administration also weakened tailpipe-emissions regulations and Congress frozen fines automakers had been paying for years because they failed to meet federal fuel-efficiency requirements. California and the Trump administration have been fighting in court about the state's rights to set their own EV regulations. This battle could determine the viability for the largest EV market in the country.
U.S. immigration and trade policies have also worked against EVs. Steep tariffs hiked the cost of critical battery materials that are overwhelmingly produced in China, such as lithium-iron-phosphate batteries and graphite used in anodes.
The immigration laws have also been tightened, which has made it difficult for foreign battery manufacturers to hire engineers in U.S. factories. In a raid by Immigration and Customs Enforcement on a battery factory under construction in Georgia that was co-owned with LG Energy Solution and Hyundai Motor in September 2025, 475 people were arrested. Many of the people sent home were South Korean engineers and specialists needed to calibrate highly-specialized machinery for long periods.
Two people have told me that some workers in South Korea are now reluctant to travel to the U.S. and this is causing LG's U.S. factory operations to be delayed by several months.
In a statement released jointly, LG Energy said that the Georgia facility was completed and its first cells were shipped in July. The majority of the 500 employees at the plant were locals, they claimed.
MUSCLE TRUCKS ARE MADE IN CHINA, WHILE EVs DOMINATES THE WORLD
Auto executives can now pursue aggressively gasoline engine programs.
In May, Stellantis executives gathered journalists at a test track about an hour west from Detroit to show off a new range of Ram "muscle" trucks with engines up to 6.4 liters. One truck, the yellow and black Ram 1500 Rumble Bee SRT can go from zero to sixty miles per hour at speeds as fast as Ferraris.
Tim Kuniskis is the head of Stellantis' American Brands. As Guns N' Roses' Welcome to the Jungle rumbled the bleachers, giant screens flashed the words "in loud, we trust".
Stellantis, meanwhile, has scrapped EV projects in order to reduce its $27 billion debt. A part of the $6 billion battery complex, which will create 2,800 jobs in Kokomo (Indiana), jointly planned by Samsung SDI and Stellantis, has been stalled. The automaker cancelled development of its planned Ram electric vehicle in late 2025.
Samsung SDI has confirmed that it is in discussions with Stellantis about the future of its Indiana facility.
Stellantis stated that the revised regulations of the administration "are more aligned to market realities" and are focused on delivering a variety of vehicles and powertrains - from V-8 engines, to?pure EVs or small cars.
Ford plans to stop producing EV pickups at its Tennessee assembly plant and switch to gas-powered models. However, the work will start several years after it was originally planned to be an EV factory.
It's still unclear if voters in the affected states will punish Republicans over the EV retreat. Many in Glendale did not blame Trump's policies when it came to the empty battery factories.
Joshua Urso, a worker who was let go in December, was one of the many. He found work at a fabrication workshop after applying for 100 jobs. He said that the push to promote EVs under Biden is the real problem.
Don't tell my I have to purchase anything. "I'll buy whatever I want to," he said. "If I want to buy a black-smoking, gas-guzzling diesel, then I will."
Trump's fossil-fuel-friendly agenda has set the U.S. apart from China and Europe, the two world's top auto markets. In these regions, EV sales are booming due to the demand from buyers, intense competition between carmakers and government incentives. The war in the Middle East has pushed up gas prices, and this year Europeans are gravitating towards EVs.
U.S. automakers may see short-term benefits from selling more gas-guzzling pickup trucks. These are their top money-makers. This will put them further back in the global race, according to Susan Helper, a professor of economics at Case Western Reserve University, and former senior advisor for industrial strategy for Biden.
Helper stated that "We won't be making electric cars, as the rest of world wants them."
Wilmoth, a former employee of BlueOval SK in Kentucky (the Ford-SK venture), blames the Biden administration and automakers for pushing too hard for strict regulations. He now works on an AI startup.
He often thinks about his colleagues who lost their careers, which they thought would provide for their families over many years.
He said that for a time, they pretended it would work.
(source: Reuters)