The venture will produce battery cells and modules at a factory that will have an annual production capacity of 40 gigawatt-hours.
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The automaker will invest $316 million to produce electric drive units for future Ford full-electric passenger and commercial vehicles sold in Europe.
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The factory is expected to begin production in 2025, and it will eventually supply electric vehicles and hybrids built in the region.
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If LMC Automotive analysts are right, next year will be another tough one for U.S. auto dealers, though there will be some signs of recovery.
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New-vehicle stocks shrank to just more than 915,000 last month, according to Cox Automotive, and could shrink even further despite cooling sales as production issues and supply shortages linger.
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After a couple of weeks that saw production cuts totaling fewer than 10,000 vehicles each, North American factories lost 84,000 vehicles last week because of the ongoing worldwide shortage of microchips.
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Battery startup Our Next Energy closed its series A funding round, raising $25 million. BMW's venture-capital arm is among the participating investors, but not the most well known.
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Dealers and a lawyer told Retail Forum: Dealer Discussion they expect the pace to continue well into 2022.
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The narrow price gap between the SUVs could cause some attrition for the two-row model, but Jeep believes it can still come out ahead.
Continue Reading the above article 'Pair of Grand Cherokee models, with similar prices...
Jerry Romano, who started working as a technician three decades ago for the late dealer Louis VeDova, has fulfilled a dream to own his mentor's Hawaiian stores.
Continue Reading the above article 'How unusual deal helped a dealership general manag...