Tag: Electric Vehicles

Toyota Announces $2.5B Investment in U.S. Battery Plant

Toyota is making an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC), the company announced. This investment adds capacity to support battery electric vehicle (BEV) battery production and adds 350 jobs, bringing the total employment to approximately 2,100. Scheduled to begin production in 2025, the facility… Continue reading Toyota Announces $2.5B Investment in U.S. Battery Plant

Honda, LG to Build $4.4B U.S. Battery Production Facility

LG Energy Solutions and Honda Motor Co. have reached an agreement to establish a joint venture (JV) company to produce lithium-ion batteries in the U.S. to power Honda and Acura EV models for the North American market, the companies announced. With this agreement, LGES and Honda will invest a total of USD $4.4 billion and… Continue reading Honda, LG to Build $4.4B U.S. Battery Production Facility

CARB Votes to End Sale of Gas-Powered Cars by 2035

California moved to require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids, according to a report from Reuters. California Governor Gavin Newsom first announced the plan to phase out vehicles that run only on gasoline by 2035 in September 2020. The California Air Resources Board voted… Continue reading CARB Votes to End Sale of Gas-Powered Cars by 2035

Automakers: Proposed Tax Credits Could Hurt EV Sales

Proposed tax credits of up to $7,500 for electric vehicles under the Inflation Reduction Act could be counterintuitive for sales of EVs, several companies and a group representing major automakers such as General Motors, Toyota Motor and Ford Motor said, according to a report from CNBC. The new rules would raise a sales threshold for… Continue reading Automakers: Proposed Tax Credits Could Hurt EV Sales

Cummins Acquires Electric Powertrain Supplier

Cummins has acquired Meritor, Inc., a supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions, the company announced. With the acquisition, Cummins intends to increase Meritor’s investment in electrification, the company said, and also add products to Cummins’ components business. Cummins expects to utilize its global footprint to accelerate the growth of these core… Continue reading Cummins Acquires Electric Powertrain Supplier

BorgWarner Acquires EV Charger Supplier

BorgWarner has acquired Rhombus Energy Solutions, the company announced. Headquartered in San Diego, California, Rhombus offers V2G and Underwriters Laboratory-certified charging. Rhombus supplies its patented technology to EV OEMs, including Proterra, and charging and grid service providers, the company said. The transaction has a value of up to $185 million, which is being funded primarily… Continue reading BorgWarner Acquires EV Charger Supplier