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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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Canadian company AK Motor International introduces new EV brand: Maple Majestic

Green Car Congress

Canada-based AK Motor International Corporation, an automotive intellectual property management company, is launching a new electric vehicle brand: Maple Majestic. Arising from AK Motor’s project CANU (Canadian Automotive New Utilities), Maple Majestic is intended to excel in difficult environments.

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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
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Volkswagen unveils European ID.4 GTX; dual-motor AWD, 220 kW

Green Car Congress

4 GTX is the first model based on the modular electric drive matrix (MEB) to feature dual-motor all-wheel drive. 4 GTX has one electric drive motor on both the front and rear axle. With the dual-motor all-wheel drive, the flagship model of the ID.4 Earlier post.) The Volkswagen ID.4 4 GTX is the European offer for an ID.4

Motoring 307
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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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Mitsubishi Motors Corporation to supply global compact sedan to Chrysler de Mexico

Green Car Congress

Mitsubishi Motors Corporation (MMC) and Chrysler de Mexico (CdM) announced a five-year agreement in which MMC will supply its global compact sedan to CdM, to be sold in Mexico starting November 2014. —Bruno Cattori, President and CEO of Chrysler de Mexico.

Chrysler 218