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South Korea wants a three-year grace period on the U.S. Inflation Act to enable Korean automakers to keep receiving U.S. electric vehicle (EV) incentives.
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New U.S. EV tax credit changes are coming under fire as Japan's government warns these credits could thwart further EV investment.
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Volvo Car AB of Sweden reported sales grew 7% year-over-year in October.
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Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
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Hyundai Motor Co. will focus on luxury models, SUVs and electric vehicles (EVs) to achieve record-high earnings in 2022.
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The steps Ford is taking now to cut costs and boost revenue could pay off in big dividends in the future.
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Federal agencies would have purchased more EVs had it not been for supply chain hurdles, the White House reported.
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Automakers will spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, EV batteries and raw materials.
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BMW Board Chair Olive Zipse says the move will put vehicle ownership out of reach for many people, and could be politically dangerous.
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The grants will fund projects designed to boost U.S. manufacturing of electric vehicle batteries and domestic mineral production.
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