The state’s five automotive assembly plants, and the suppliers who serve them, produce 1.3 million cars and trucks per year, employing just more than 110,000 workers. But the vast majority of that work focuses on gas-powered vehicles.
The Indiana Economic Development Corp. laid out a substantial incentive package to lure the joint venture, with tax credits and investments totaling at least $186 million.
Stellantis officials said the clean energy requirement was a critical part of the agreement to locate the operation in Indiana.
The companies said the investment could grow to $3.1 billion as Stellantis—formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot—ramps up production of electric vehicles.
Regulators said that the driver’s and front passenger’s seat belt pretensioners can explode upon deployment and send shrapnel throughout the vehicle.
Automaker Stellantis said it will give an update on the future of its Kokomo operations at an Indiana community college on Tuesday afternoon.
Cars on U.S. roads are as old as they’ve ever been, potentially complicating efforts to expand the use of new safety and emissions-reduction technologies.
The forecast comes as Europe and North America look to reduce their dependency on Chinese imports and develop their own lithium production. China has enjoyed a stranglehold over the lithium supply chain.
GM has set a goal of building only electric passenger vehicles by 2035. It has pledged to have 30 electric vehicle models for sale globally by 2025.
Kentucky Gov. Andy Beshear said Envision AESC’s plan to build a 2,000-employee plant will help make Indiana’s southern neighbor the “undisputed electric battery production capital of the United States of America.”
Efforts in North America will focus on the collaboration with General Motors Co., under which Honda Motor Co. is jointly developing two midsize to large EV models, set for sale in 2024.
The all-solid-state battery is stable enough to be used in pacemakers, Nissan said. When finished, it will be about half the size of the current battery and fully charge in 15 minutes, instead of a few hours.
The lack of credits is problematic for automakers shifting from petroleum-powered vehicles to batteries in the effort to reduce emissions, meet government fuel-economy standards and fight climate change.
The plan is to have an electric vehicle that is priced lower than the upcoming Chevrolet Equinox EV. GM plans to roll out an electric Equinox small SUV next year with a starting price of around $30,000.
Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
The war’s damage to the auto industry has emerged first in Europe. But U.S. production will likely suffer eventually, too, if Russian exports of metals—from palladium for catalytic converters to nickel for electric vehicle batteries—are cut off.
Buyers have no negotiating power. Zilch, Dunn tells podcast host Mason King. And that’s because there are as many buyers on a lot looking for a vehicle as there are cars.
The plant makes Chevrolet Silverados and GMC Sierra light duty pickups and employs more than 4,000 blue collar workers.
Toyota Motor Corp. plans to pause production at its Princeton assembly pant because of supply chain disruptions. The Princeton plant assembles the hybrid Sienna minivan, the Highlander/Highlander hybrid SUV and the Sequoia full-size SUV.
Ford plans a major restructuring with two distinct but strategically interdependent auto businesses–Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles.
