Ford, Toyota join some countries in urging looser EV battery sourcing qualifications.
South Korea wants a three-year grace period on the U.S. Inflation Act to enable Korean automakers to keep receiving U.S. electric vehicle (EV) incentives.
New U.S. EV tax credit changes are coming under fire as Japan's government warns these credits could thwart further EV investment.
Volvo Car AB of Sweden reported sales grew 7% year-over-year in October.
Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
Hyundai Motor Co. will focus on luxury models, SUVs and electric vehicles (EVs) to achieve record-high earnings in 2022.
The steps Ford is taking now to cut costs and boost revenue could pay off in big dividends in the future.
Federal agencies would have purchased more EVs had it not been for supply chain hurdles, the White House reported.
Automakers will spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, EV batteries and raw materials.
BMW Board Chair Olive Zipse says the move will put vehicle ownership out of reach for many people, and could be politically dangerous.
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