Ford Boosts Investment In Electric And Autonomous Vehicles To $29 Billion Through 2025
Ford Motor plans to invest $29 billion in electric and autonomous vehicles through 2025, the company announced when it reported better-than-expected fourth-quarter earnings. Wall Street was waiting to see Ford pour more money into the emerging technologies after General Motors…
Faraday Future Finds Fusion Partner For IPO
Faraday Future has found a partner for its IPO. After merging with investment company Property Solutions Acquisition, the new Faraday Future Inc. is to be traded on Nasdaq under the ticker symbol “FFIE”. The company has also signed a framework…
China And The United States Are Battling For EV Dominance
Electric vehicles were the story of the year throughout 2020, but a battle in the EV industry could bust the market wide open in 2021. While Tesla was the one grabbing headlines in the United States, with over 700% gains…
Competition Intensifies For Commercial Vehicle Battery Makers
Moving beyond electric vehicles themselves, blank-check companies are targeting battery developers critical to the growing demand for zero-emission commercial vehicles. The most attractive battery-making companies have track records and significant revenue, reducing the risk to investors. The special purpose acquisition…
General Motors Plans To Be Carbon-Neutral By 2040; Eliminate LDV Tailpipe Emissions By 2035
GM plans to become carbon-neutral in its global products and operations by 2040 and has committed to setting science-based targets to achieve carbon neutrality. The company has also signed the Business Ambition Pledge for 1.5⁰C, an urgent call to action…
Shift To Electric Vehicles Spurs Bid To Make More Batteries In U.S.
The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles. China currently dominates the market for producing electric-vehicle batteries. But as auto makers spend billions to…
Amazon Invests In Electrofuels Company Infinium
Infinium, an electrofuels solution provider, announced the close of a funding round bringing together a consortium of investors including Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust. The proceeds will…
Biden Says He Will Convert Federal Fleet To Electric Vehicles
In remarks made at the signing of his Executive Order on Strengthening American Manufacturing, President Biden said that he would replace the federal government’s fleet of vehicles with electric vehicles made in the US. Such an investment in procurement, along…
Microsoft (MSFT) Invests In Self-Driving Electric Car Venture
Microsoft Corporation (MSFT) has “entered a long-term strategic relationship” with General Motors Company (GM) and Cruise LLC, a company developing self-driving electric vehicles that is majority-owned by GM. Cruise CEO Dan Ammann stated: “Microsoft, as the gold standard in the…
GM To Invest C$1 Billion In Canada Plant To Manufacture Electric Vans
General Motors Co and labor union Unifor said they have reached a tentative deal for the automaker to invest nearly C$1 billion ($785.42 million) in its CAMI Assembly Plant in Ingersoll, Ontario, to manufacture commercial electric vans. Under the tentative…
