Deal allows minerals sourced from Japan in manufacture of batteries as US seeks similar measures in Europe.
Plans to offer six electrical vehicle nameplates that comply with US local sourcing rules for EV tax credits by 2026.
Toyota Motor Corp’s next chief executive, Koji Sato, is calling for an “EV-first mindset” for the Japanese automaker.
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.
GM has recalled 140,000 Chevrolet Bolt electric vehicles in North America over a potential fire risk when seat belt pretensioners deploy in a crash.
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.
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