02:31 PM EDT, 08/19/2024 (MT Newswires) -- (Updates with details throughout)

Several United Auto Workers union locals representing thousands of Stellantis ( STLA ) workers are prepared to file grievances, alleging the automaker failed to honor its investment commitments and the union contract, setting the stage for a possible national strike at the automaker, the UAW said Monday.

According to the union, the company has reneged on its commitment to reopen the Belvidere assembly plant which was indefinitely idled in early 2023.

"This company made a commitment to autoworkers at Stellantis ( STLA ) in our union contract, and we intend to enforce that contract to the full extent," UAW President Shawn Fain said in a statement.

The contract provides the option to strike over product and investment commitments, and the union may authorize a strike once an issue has been taken through the grievance procedure.

The union said any local covered under the national UAW Stellantis agreement may file the grievance at any time.

Stellantis ( STLA ) did not immediately respond to a request for comment from MT Newswires.

Price: 16.30, Change: +0.41, Percent Change: +2.55