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Lordstown Motors closes assets sale to Foxconn; JV agreement for MIH-based EV development

Green Car Congress

Lordstown Motors, an OEM of electric light-duty trucks focused on the commercial fleet market, has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group (Foxconn). and Irvine, Calif.

Motoring 334
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Mitsubishi Motors targeting 50% electrified sales by 2030, 100% by 2035

Green Car Congress

Mitsubishi Motors Corporation (MMC) unveiled its next Mid-Term Business Plan (MTP). Additionally, MMC will move to make 50% of global sales an EV by 2030, and then 100% of the fleet electrified by 2035 (“EV” specifically refers to a blend of plug-in hybrids (PHEV), hybrids (HEV) and pure electrics (BEV)).

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Lordstown Motors, Foxconn broaden partnership; $170M investment; first joint EV program

Green Car Congress

Lordstown Motors (LMC), an original equipment manufacturer of electric vehicles focused on the commercial fleet market, and Foxconn Ventures Pte. LMC and Foxconn have agreed to terminate the existing joint venture arrangement between Lordstown EV Corporation and Foxconn EV Technology, Inc.

Motoring 150
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Honda aiming to sell 3.5M electric motorcycles per year by 2030

Green Car Congress

Honda will introduce more than 10 new electric motorcycle models by 2025, with an aim to reach annual electric motorcycle sales of 1 million units within the next five years, and 3.5 million units (approximately 15% of total sales) as of 2030. In Japan, four major Japanese motorcycle manufacturers—Honda, Kawasaki Motors, Ltd.,

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Nikola & GM form strategic partnership; GM to engineer & manufacture Nikola Badger BEV & FCEV; 11% ownership

Green Car Congress

Nikola Corporation and General Motors Co. As part of the agreement, Nikola will utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors. General Motors is one of the top engineering and manufacturing companies in the world.

GM 243
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Toyota’s China undertaking dismisses some manufacturing facility employees as gross sales fall

Baua Electric

The GAC Toyota manufacturing facility has an annual output capability of one million automobiles and employs round 19,000 population, consistent with its website online. In the meantime, gross sales of Chinese language manufacturers accounted for 53 p.c It produces fashions together with Camry, Levin and bZ4X. of the entire.

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Hyundai Motor and Kia revamp R&D organization to make it more agile, flexible and independent like startups

Green Car Congress

Hyundai Motor Company and Kia Corporation are reorganizing their joint research and development (R&D) organization to be able to respond flexibly to the rapidly changing global automotive industry, advance the transition to electrification and accelerate the development of Software Defined Vehicles (SDVs).

Kia 417