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Hyundai Motor Group to build $5.54B EV plant and battery factory in Georgia

Green Car Congress

Hyundai Motor Group (HMG) entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle and battery manufacturing facilities in the US. Non-affiliated Hyundai Motor Group suppliers will invest approximately another $1 billion in the project.

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National Electric Vehicle Sweden AB acquires assets of Saab Automobile to create new EV company; first model based on 9-3 due year-end 2013/2014

Green Car Congress

National Electric Vehicle Sweden AB (NEVS)—an international consortium formed by Chinese, Japanese and Swedish stakeholders—and the Receivers of the Saab Automobile bankruptcy estate ( earlier post) signed a purchase agreement covering the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB.

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

Green Car Congress

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. United Kingdom ?

Motors 284
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Nidec to form electric traction motor JV with a subsidiary of Guangzhou Automobile Group

Green Car Congress

Leading motor manufacturer Nidec Corporation will form a joint venture with GAC Components Co., a member of China-based Guangzhou Automobile Group Co., to manufacture automotive traction motors. Nidec’s fully integrated automotive traction motor system E-Axle (announced in April 2018). billion to US$9.3 billion) in 2030.

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Saab Automobile and Spyker enter into MOU with Pang Da Automobile on distribution/manufacturing partnership for China and equity participation

Green Car Congress

Four days following the termination of its strategic partnership with Hawtai Motor Group ( earlier post ), Spyker Cars N.V. Spyker) announced that it and Saab Automobile AB have signed a Memorandum of Understanding (MoU) with Pang Da Automobile Trade Co., Pang Da shall make a €30 million (US$42.4

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Mullen Automotive acquires controlling interest in EV truck maker Bollinger Motors

Green Car Congress

Mullen Automotive, an emerging EV manufacturer, is acquiring a controlling interest in EV truck maker Bollinger Motors. The purchase price is $148.2 million in cash and stock for a 60% controlling interest, which gives Mullen the majority ownership of Bollinger Motors. —David Michery, CEO and chairman of Mullen Automotive.

Motors 307
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Saab Automobile and AAM Form Joint Venture to Develop Electric All-Wheel Drive and Electric and Hybrid Driveline Systems

Green Car Congress

Saab Automobile and American Axle Manufacturing (AAM) have formed a jointly-owned company for the engineering, development and marketing of electric all-wheel drive systems, as well as electric and hybrid driveline systems. —Jan Åke Jonsson, Saab Automobile CEO. The joint venture will commence operations on 1 October.