General Motors Co. said Wednesday it’s leading a $60 million Series B financing round in Mitra Chem, a Silicon Valley-based lithium-ion battery materials product company. GM says Mitra Chem’s AI-powered platform and R&D center will help accelerate its commercialization of affordable EV batteries. And GM’s financial support for Mitra Chem will help the company scale… Continue reading GM leads funding series for Silicon Valley battery materials company
Author: Detroit News Online
Venture capital group secures $76M for mobility fund from Dan Gilbert, Stellantis, others
Assembly Ventures, a venture capital group founded by Detroit and Berlin investors, said Wednesday it has closed fundraising its inaugural $76 million from the likes of Rocket Mortgage founder Dan Gilbert to Jeep maker Stellantis NV to invest in mobility sector innovations. The group founded in 2020 is the brain child of mobility operators Chris… Continue reading Venture capital group secures $76M for mobility fund from Dan Gilbert, Stellantis, others
‘The clock is ticking:’ UAW prepares to step up fight for contract demands
With one month to go until the United Auto Workers’ contracts with the Big Three expire, the union is preparing to escalate its fight to achieve its demands at the bargaining table. UAW President Shawn Fain, citing what the union described as a “slow pace of negotiations” with Stellantis NV, General Motors Co. and Ford… Continue reading ‘The clock is ticking:’ UAW prepares to step up fight for contract demands
Stellantis to launch platform in Michigan for dealers to get 70% cheaper service parts
Troy — Starting in December, several Michigan dealers selling Chrysler, Dodge, Jeep and Ram vehicles will have greater access to parts up to 70% cheaper through a service Stellantis NV is launching in North America, an executive for the automaker said Tuesday. B-Parts is a part of Stellantis’ circular economy division that focuses on reusing,… Continue reading Stellantis to launch platform in Michigan for dealers to get 70% cheaper service parts
Our Next Energy touts advancements in lithium iron phosphate battery technology
Novi — Our Next Energy Inc. on Tuesday announced what it described as a “significant milestone” in its quest to advance lithium iron phosphate battery technology for electric vehicles. The Novi-based energy storage technology startup said that its Aries II battery pack, which uses an LFP chemistry and is slated to launch in 2025, is… Continue reading Our Next Energy touts advancements in lithium iron phosphate battery technology
Fain to discuss ‘slow pace’ of talks ahead of UAW strike authorization votes
Detroit — About 146,000 members of the United Auto Workers union will vote next week on authorizing their leaders to call strikes against the Detroit Three automakers amid the “slow pace” in contract talks, the union’s president said Tuesday. In a statement, union President Shawn Fain said talks have yet to address economic issues, including… Continue reading Fain to discuss ‘slow pace’ of talks ahead of UAW strike authorization votes
Biden says auto workers need ‘good jobs that can support a family’ in UAW talks
Washington — President Joe Biden is asking major U.S. automakers and their workers’ union to reach an agreement that takes “every possible step to avoid painful plant closings” as the sector transitions to electric vehicles. The United Auto Workers have not yet endorsed the president as he seeks reelection, despite his broad support from organized… Continue reading Biden says auto workers need ‘good jobs that can support a family’ in UAW talks
Ford to include BlueCruise hardware standard on 500K 2024 vehicles
Ford Motor Co. is expanding the availability of its hands-free highway driving system by making BlueCruise hardware standard on several model year 2024 vehicles, giving customers the option to activate the system at any time rather than having to decide at the point of purchase. The move, detailed Monday by the Dearborn automaker, will give… Continue reading Ford to include BlueCruise hardware standard on 500K 2024 vehicles
Ford taps former Apple executive who headed up Apple TV+ to lead services business
Ford Motor Co. has tapped a former Apple Inc. executive who was crucial to implementing the technology company’s subscription services model to head up the automaker’s own push to grow its software and services subscriptions. The Dearborn automaker said Monday that Peter Stern, who served as vice president of services at Apple for more than… Continue reading Ford taps former Apple executive who headed up Apple TV+ to lead services business
Automakers pursue energy reduction efforts in shift to renewable energy
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