Stellantis' latest offer includes 21% wage increase, end of wage tiers for some employees

Stellantis touted "momentum at the bargaining tool" Friday as waved another offer toward the autoworkers union.

The proposal includes a 21.4% wage increase through the length of its 4-year-long contract with the UAW, a four-year progression toward a top wage for workers, the elimination of wage tiers for Mopar employees, and 18 paid holidays.

"Since the beginning of these negotiations, our focus hasn’t wavered – that is, to reach a balanced agreement as soon as possible that establishes the framework that will allow the company to be competitive and sustainable in a rapidly changing market and brings our workforce along on the journey," read a statement from Stellantis. 

The contract also included cost-of-living-adjustments that are calculated every quarter, and added to every hour earned, as well as $1 billion in retirement funding, and "significant improvements" to 401(k) contributions for employees.

"While we still have some work to do, I remain optimistic that our discussions are providing a pathway to a tentative agreement. It would be one that fairly rewards our workforce while preserving our ability to compete with non-union manufacturers and protects the future of the Company for our employees, our families and our customers," read the statement.

MORE: A look at the UAW's ‘transformative win’ in GM negotiations

Three weeks since the autoworkers went on strike across the U.S., both parties remain without a contract. But on Friday, on the heels of a major breakthrough with GM, the UAW said it would not strike any more plants this week.

Notably, there was no mention of including battery plants in the UAW's national contract with Stellantis. Electric vehicles remain a sticking point for the industry as both automakers and autoworkers weigh an uncertain future building battery-powered cars.

Read more UAW strike coverage here.