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Motor vehicle taxation brings in €440.4B for governments in major European markets

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New data shows that motor vehicles generate more than €440 billion in taxation per year for national governments in the major EU markets plus the UK, the European Automobile Manufacturers’ Association (ACEA) reports. This just goes to show the sheer scale of the importance of the automobile industry to Europe.

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Auto Alliance pushing for passage of Maryland SB 1234 that would require state purchase of ZEVs; 50% of LDVs by 2026

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The Alliance of Automobile Manufacturers (Auto Alliance) is strongly supporting the passage of Maryland’s SB 1234 , a bill that would require the State of Maryland to purchase zero emission vehicles (ZEVs) for state fleets. The bill also includes a reporting requirement for State agencies that purchase vehicles.

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New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

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Under current law, consumers may receive a tax credit of up to $7,500 if they purchase an eligible electric vehicle. The Driving America Forward Act raises the cap and allows purchasers of an additional 400,000 vehicles per manufacturer to be eligible for the tax credit. ITC Holdings Corp., ITC Holdings Corp., ITC Holdings Corp.,

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Volvo Cars and Geely Auto to deepen collaboration; new combined powertrain company

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The company, expected to become operational this year, will provide internal combustion engines, transmissions, and next-generation dual-motor hybrid systems for use by both companies as well as other automobile manufacturers. Companies to retain independent corporate structures.

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Panasonic invests $30M in Tesla Motors

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Panasonic Corporation has invested $30 million in Tesla Motors. The investment was made through the purchase of Tesla common stock in a private placement at a price of $21.15 We are proud to strengthen our relationship with Tesla Motors. Toyota has also purchased $50 million of Tesla’s common stock.

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National Electric Vehicle Sweden AB (NEVS) and Dongfeng Motor Corporation enter strategic cooperation, focused on new energy vehicles

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National Electric Vehicle Sweden AB (NEVS)—the rebirthed Saab—and Dongfeng Motor Corporation (Dongfeng) have signed a strategic cooperation agreement to achieve global industrial synergies. Dongfeng Motor Corporation (DFM) is the third biggest Chinese state-owned automobile manufacturer headquartered in Wuhan, Hubei Province.

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MAHLE to acquire Spanish electronics specialist Nagares to bolster position in vehicle electronics

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The purchase price will not be disclosed. Nagares develops and manufactures a variety of products for the automotive industry, including control units and power electronics for electric auxiliary components and thermal management systems, as well as power converters for e-mobility solutions.