The United States and Japan on Tuesday signed a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to a new $7,500 U.S. EV tax credit. The swiftly negotiated agreement prohibits the two countries from enacting bilateral export restrictions on the minerals […]
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French car parts company Valeo said on Tuesday it had won a major contract with BMW to equip the German carmaker’s upcoming electric vehicle platform with its advanced driving assistance systems. The platform, on which BMW is planning to build up its bestselling 3 series sedan among other models, is a core part of the […]
China Evergrande New Energy Vehicle Group said it will start accepting orders for its inaugural electric car, the Hengchi 5 sport utility vehicle, “imminently” and open sales centres in 15 major cities across the country. Liu Yongzhuo, president of the electric vehicle (EV) arm of the world’s most indebted property developer China Evergrande Group, made […]
The Biden administration released an ambitious federal strategy Monday to build 500,000 charging stations for electric vehicles across the country and bring down the cost of electric cars with the goal of transforming the U.S. auto industry. “The future of transportation in our nation and around the world is electric,” Vice President Kamala Harris said […]
General Motors has taken two more steps to make sure it has the raw materials for the transition from petroleum to battery power, this time lining up magnets for electric vehicle motors. On Thursday the company said it has a deal with MP Materials to supply rare earth metals and finished magnets for the motors […]
American electric vehicle maker, Rivian, has officially filed its initial public offering (IPO) Friday on Nasdaq, following a confidential filing to the Securities and Exchange Commission (SEC) earlier on in August. The EV company, which is vouched for by Ford and Amazon, wrote in the filing that they have not generated substantial revenues due to being stuck […]
Charged up by strong sales of its electric cars and SUVs, Tesla on Monday posted its seventh-straight profitable quarter. The company made $438 million in the three-month period that ended March 31, as sales more than doubled the same period last year to nearly 185,000 vehicles. Tesla said adjusted net income, excluding stock-based compensation, passed […]
Two big South Korean electric vehicle battery makers said Sunday they have settled a long-running trade dispute that will allow one company to move ahead with plans to manufacture batteries in Georgia. President Joe Biden called it “a win for American workers and the American auto industry.” The agreement between LG Energy Solution and SK […]
Ford Motor Co. lost $1.28 billion last year as it dealt with a huge restructuring, a costly recall and a decline in the value of its pension fund. But the company said Thursday it is generating strong cash flow and will go all-in on electric vehicles. Ford said it would now spend at least $22 […]
Tesla told suppliers it wants to start production of a mass market of new electric vehicle codenamed "Redwood" in mid-2025.