General Motors Co. posted a $2 billion net profit in the fourth quarter finishing the year strong despite supply chain struggles, record prices and other disruptors.
As of January 1, consumers can lease electric vehicles and qualify for up to $7,500 in commercial clean vehicle tax credits.
The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.
Vietnamese EV-maker has filed for IPO to fund a manufacturing plant in North Carolina with a projected capacity of 150,000 EVs a year.
The Vietnamese automaker has shipped 999 cars to the United States. The vehicles are expected to arrive in December.
Hyundai may not maintain its EV sales momentum if it can no longer qualify for U.S. tax credits under the Biden Administration’s Inflation Reduction Act.
Stellantis is negotiating a third electric vehicle battery plant to come online in 2026, reports Stellantis CEO Mark Stewart.
Building more parts in-house rather than purchasing them from other suppliers makes financial sense and retains jobs, said CEO Jim Farley.
Automakers will spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, EV batteries and raw materials.
The facility will further Ford CEO Jim Farley’s goal to build 2 million EVs annually by the end of 2026.
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