Michigan might get its big piece of the emerging electric-vehicle battery bonanza roughly three months after watching Ford Motor Co. pledge to invest more than $11 billion in two southern states and create 11,000 jobs. General Motors Co. is targeting Delta Township near Lansing to build its third multi-billion dollar battery cell manufacturing plant in the United States, according… Continue reading GM eyeing $2.5B investment for new battery cell plant in Lansing area
Tag: Financial Results
Chip Shortage Creates New Power Players
SAN FRANCISCO — Since 1989, Microchip Technology has operated in an unglamorous backwater of the electronics industry, making chips called microcontrollers that add computing power to cars, industrial equipment and many other products. Now a global chip shortage has elevated the company’s profile. Demand for Microchip’s products is running more than 50 percent higher than… Continue reading Chip Shortage Creates New Power Players
Lesjöfors expands in the US market through the acquisition of Plymouth Spring
Fri, Dec 10, 2021 18:04 CET Lesjöfors has acquired the assets and operations of Plymouth Spring Company, Inc., a US-based manufacturer of industrial springs. The acquisition is another step in Lesjöfors’s ambition to consolidate the industrial springs market and marks an expansion in the US market where it sees potential for further growth, both organic… Continue reading Lesjöfors expands in the US market through the acquisition of Plymouth Spring
Self-driving startup Robotics Research raises $228m from SoftBank, others …
Self-driving technology startup Robotic Research said on Thursday it has raised $228 million from investors including SoftBank to scale up its commercial division’s solutions for trucks, buses and logistics vehicles. The fundraising round also included an investment from Luminar Technologies, which makes lidar sensors used in self-driving cars. Robotic Research has been working on a variety… Continue reading Self-driving startup Robotics Research raises $228m from SoftBank, others …
General Motors returns to rare earth magnets with two U.S. deals
Dec 9 (Reuters) – General Motors Co (GM.N) plans to source rare earth magnets for its future electric vehicles from new U.S.-based manufacturing facilities under two separate deals announced on Thursday, a return to an industry the automaker had all but abandoned in the 1990s. The agreements with MP Materials Inc (MP.N) and privately-held Vacuumschmelze… Continue reading General Motors returns to rare earth magnets with two U.S. deals
@GM: General Motors and MP Materials Enter Long-Term Supply Agreement to Scale Rare Earth Magnet Sourcing and Production in the U.S. December 9, 202…
General Motors and MP Materials Enter Long-Term Supply Agreement to Scale Rare Earth Magnet Sourcing and Production in the U.S. Rare earth materials sourced from Mountain Pass, California, will be manufactured into magnets at new MP Materials production facility in Fort Worth, Texas Rare earth magnets are critical components in GM Ultium Platform EV motors… Continue reading @GM: General Motors and MP Materials Enter Long-Term Supply Agreement to Scale Rare Earth Magnet Sourcing and Production in the U.S. December 9, 202…
@GM: General Motors and Vacuumschmelze (VAC) Announce Plans to Build a New Magnet Factory in the U.S. to Support EV Growth December 9, 2021
General Motors and Vacuumschmelze (VAC) Announce Plans to Build a New Magnet Factory in the U.S. to Support EV Growth DETROIT – General Motors (NYSE: GM) is taking another major step forward in creating a strong, sustainable and scalable supply chain for electric vehicles. Today, GM and VAC of Germany announced plans for VAC to… Continue reading @GM: General Motors and Vacuumschmelze (VAC) Announce Plans to Build a New Magnet Factory in the U.S. to Support EV Growth December 9, 2021
Volkswagen’s Herbert Diess to Remain C.E.O., With Less Control
BERLIN — Volkswagen’s chief executive, Herbert Diess, won fresh backing from the automaker’s supervisory board on Thursday, but his responsibilities will be pared as the company seeks to win back investor confidence lost in recent weeks during a dispute about his leadership style. As part of a compromise deal reached with Mr. Diess, 63, more… Continue reading Volkswagen’s Herbert Diess to Remain C.E.O., With Less Control
High tech Tesla Cybertruck camper is raising money at astronomical $400 million valuation
CyberLandr, a very ambitious high-tech camper designed for the Tesla Cybertruck, is raising money at an astronomical $400 million valuation. Earlier this year, we reported that people had already started selling third-party Tesla Cybertruck accessories even though the truck is not on the market yet. It started with this camper system for Cybertruck called Cyberlandr. We… Continue reading High tech Tesla Cybertruck camper is raising money at astronomical $400 million valuation
GM brings in partners to build up North American EV supply chain
To reach $90 billion in electric vehicle revenue by 2030, General Motors Co. is continuing to grow a North American-focused supply chain for its coming EVs and on Thursday revealed two new partners in that mission. First, GM has formed a supply partnership for rare earth materials, alloy and finished magnets for electric motors from… Continue reading GM brings in partners to build up North American EV supply chain