Battery Start-Up Freyr Accelerates U.S. Expansion Plans
Norwegian battery start-up Freyr has announced its decision to accelerate its plans to invest in a U.S. plant in an effort to benefit from tax credits offered by the Inflation Reduction Act (IRA), CEO Tom Jensen confirmed.
Currently, Freyr is building two large battery plants,...
Sigma Lithium Shares Surge as Tesla Considers Buyout
Sigma Lithium Corp's U.S. shares soared by 21% during extended trading on Friday after it was reported that Tesla is looking to buy out the Canada-based battery metals miner.
According to a Bloomberg report, Tesla is in the process of speaking with potential advisors about...
Tesla Plans Reduced Production Schedule for January
Tesla shares were down 5.85% at $116 in premarket trading on Tuesday after the company announced that it intends to run a reduced production schedule during January 2023. The company will run production from January 3 to January 19 before halting output for the...
Hyundai and SK On Agree to Build Battery Factory in U.S.
Hyundai Motor Co and fellow South Korean company SK On have agreed to invest approximately $2.5 trillion won ($1.88 billion) in the construction of a new joint venture battery factory in the United States. The two parties are expected to sign a memorandum of...
Autonomous Vehicle Startup Nuro Slashes Workforce By 20%
Silicon Valley-based startup Nuro announced on Friday that it will lay off approximately 20% of its staff. In an email to employees, the company's co-founders admitted that their rapid hiring process earlier in the year was a mistake.
Nuro stated that its accelerated growth over...
Electric Motor Maker Nidec to Open Mexico Plant
Japanese electric motor maker Nidec is planning to open a manufacturing plant in Mexico from which to build its motors, the company CEO Shigenobu Nagamori revealed on Friday. He added that the construction of the $715 million plant is scheduled to commence in April...