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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...

COVID Measures Push China’s Nio to Suspend Production

Chinese electric vehicle manufacturer Nio has decided to suspend production amid a rise in Covid-19 cases across the country, the company announced on Wednesday. The recent spike in cases has led to widespread disruptions to business activity across China. In order to curb the ongoing...

California’s Considered Ban Of Gas-Powered Car Sales, Boosts EV Market Outlook

The State of California has announced its intention to approve a plan to end the sale of gas-powered cars within the state over the next 13 years. Consisting of numerous interim milestones, the plan ultimately seeks to bring an end to the sale of...

Panasonic Announces $4 Billion EV Battery Plant

Panasonic Holdings Corp is currently in talks to construct a new electric vehicle (EV) battery plant in the United States. Currently, the company is considering the state of Oklahoma for the $4 billion factory's location. In June, Panasonic dismissed Oklahoma in favor of Kansas for...