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Tag: billion

Albemarle to build $1.3 billion lithium plant in South Carolina

Albemarle to build $1.3 billion lithium plant in South Carolina

Albemarle Corp stated it experienced picked out Chester County, South Carolina, as the location for a $1.3 billion lithium processing plant it hopes will cement its standing as a cornerstone of the speedily increasing U.S. electric car field. The facility, which was very first announced past …
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Ford to Lose $3 Billion on EVs This Year, but Sales Are Rising

Ford to Lose $3 Billion on EVs This Year, but Sales Are Rising

Ford expects to get rid of around $3 billion from the electric powered-motor vehicle arm of the business this year. The increased losses are anticipated because of to funds becoming spent on producing services in Tennessee and Kentucky, as properly as the addition of alternate battery …
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Ford’s EV business lost $2 billion in 2022, offset by fleet and legacy

Ford’s EV business lost $2 billion in 2022, offset by fleet and legacy

The badge of a Ford Motor Co. E-Transit electric powered automobile in the course of a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor reported Thursday its electric powered motor vehicle business lost $2.1 billion …
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Volkswagen announces five-year $193 billion investment plan as electrification gathers pace

Volkswagen announces five-year $193 billion investment plan as electrification gathers pace

People today glimpse at the Volkswagen id buzz electric powered auto during the push working day at the Los Angeles Car Clearly show in Los Angeles, California, November 17, 2022. Mike Blake | Reuters Volkswagen on Tuesday declared plans to spend 180 billion euros ($192.6 billion) …
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Rivian to raise $1.3 billion amid EV demand concerns

Rivian to raise $1.3 billion amid EV demand concerns

The Rivian identify is shown on one particular of their new electrical SUV automobiles in San Diego, U.S., December 16, 2022. Mike Blake | Reuters Rivian Automotive designs to raise $1.3 billion in cash through a sale of convertible notes, becoming a member of a increasing …
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Odometer fraud is a $1 billion problem in America

Odometer fraud is a $1 billion problem in America

A type of motor vehicle criminal offense that expenses shoppers in the U.S. about $1 billion a year is on the increase, in accordance to knowledge agency Carfax. It really is called odometer fraud. Fraudsters looking to enhance earnings on the sale of a car or …
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How Ford, CATL worked for years to seal deal on a $3.5 billion battery plant

How Ford, CATL worked for years to seal deal on a $3.5 billion battery plant

For executives on both sides of the Pacific, Ford Motor Co.’s controversial deal to build a $3.5 billion electrical-motor vehicle battery plant in Michigan making use of Chinese technology was the finale of a substantial-wire act that began two years in the past.  When Ford and …
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Redwood Materials nabs $2 billion loan for battery recycling in Nevada

Redwood Materials nabs $2 billion loan for battery recycling in Nevada

JB Straubel sits down with CNBC’s Phil LeBeau at Redwood Materials. Redwood Elements has attained a $2 billion personal loan determination from the Division of Electrical power, the agency declared on Thursday via its financial loan courses business office. The battery-recycling startup will use the funding …
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Tesla plans to spend $3.6 billion more on manufacturing in Nevada

Tesla plans to spend $3.6 billion more on manufacturing in Nevada

An aerial perspective of the Tesla Gigafactory around Sparks, Nevada Bob Powerful | Reuters Tesla ideas to devote $3.6 billion far more on expanded battery and heavy obligation truck manufacturing in Nevada, the company reported Tuesday on social media. According to its public statements, Tesla intends …
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Polestar gets $1.6 billion boost from Volvo, other big stakeholder

Polestar gets $1.6 billion boost from Volvo, other big stakeholder

Polestar mentioned on Thursday it experienced secured $1.6 billion in funding from its two main shareholders to help it deliver its expansion ideas amid volatile marketplaces. Volvo, which co-established the brand with China’s Geely in 2017, said it would deliver an $800 million financial loan to …
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