Auto Industry News

Northvolt will build a lithium processing plant with Portugal's Galp Energia with investments estimated at around 700 million euros ($789.6 million), as demand grows for lithium-ion batteries to power electric vehicles.

U.S. Commerce Secretary Gina Raimondo on Tuesday said efforts in Congress to approve $52 billion to expand U.S. semiconductor manufacturing could slip into 2022.

The fundraising round also included an investment from Luminar Technologies, which makes lidar sensors used in self-driving cars.

The new plant, at a site in Liberty that will begin production in 2025, will initially be capable of supplying lithium-ion batteries for 800,000 vehicles annually, and will "pave the way" for Toyota's U.S. production of electric vehicles.

The San Francisco Municipal Transportation Agency (SFMTA) last week challenged Cruise's application for a permit to deploy robotaxis in San Francisco on the grounds that it was illegally "double parking" during testing, creating safety and traffic concerns.

Nissan plans to build new battery recycling factories in the United States and Europe by the end of fiscal 2025.

The proposed loan issuance got a staggering response from investors with interest and commitment of about $1.5 billion, the Bengaluru-based company said.

General Motors, Alphabet Inc.'s Google and its self-driving auto-technology company Waymo joined the companies no longer attending the Consumer Electronics Show (CES) in person early next month due to rising COVID-19 infections.