Tag: auto deals mableton

Auto pact formed to secure Stellantis-LGES and Volkswagen dealsAuto pact formed to secure Stellantis-LGES and Volkswagen deals

July 19, 2023July 19, 2023| 2:04 pm

PHOTO: Doug Ford/Twitter TORONTO — On Jul. 6, Chrystia Freeland, Canada’s Deputy Prime Minister and Minister of Finance, François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, Doug Ford, Premier of Ontario, and Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, issued a joint statement saying: “The governments of Canada and Ontario are partnering to attract once-in-a-generation projects that will anchor our auto manufacturing sector and keep good jobs in Canada. “We already have fought for and secured the new NAFTA, which protected our auto sector, and fought for and secured a carve-in for Canada in the… [...]

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‘Tested & Trusted’ Expert Picks on Sale Now for Amazon Prime Day‘Tested & Trusted’ Expert Picks on Sale Now for Amazon Prime Day

July 17, 2023July 17, 2023| 1:28 pm

‘Tested & Trusted’ Expert Picks on Sale Now for Amazon Prime Day Tested & Trusted How does the average car enthusiast know what products and gear to buy? We ask the experts. The Gear Team has spent the last year doing hands-on tests of dozens of popular products in a variety of categories, popular pitting, bestselling, and even brand-new products against the competition in real-world testing and letting our readers know which ones are the best, which ones will get the job done, and which ones to avoid. We’ve tested everything from tools and shop gear to car-cleaning products [...]

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Mullen Automotive Inc’s shares motor ahead after completing the second EV dealMullen Automotive Inc’s shares motor ahead after completing the second EV deal

May 10, 2023May 10, 2023| 3:49 am

Mullen Automotive Inc (NASDAQ:MULN) saw its shares motor ahead on Wednesday after completing the purchase of bankrupt EV start-up Electric Last Mile Solutions (ELMS), paving the way for the company to manufacture its first electric vehicle. The California-based EV company said it had received approval from the US Bankruptcy Court on October 13 to buy ELMS in a $240 million cash transaction. The deal includes the acquisition of ELMS’ manufacturing plant in Indiana, which is capable of producing 50,000 cars per year. Mullen also acquired all intellectual property of the defunct auto company. READ: Electric vehicles stock climbs on big… [...]

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Bankruptcy threat: Lordstown Motors says Foxconn deal unravelsBankruptcy threat: Lordstown Motors says Foxconn deal unravels

May 4, 2023May 4, 2023| 3:07 am

Shares of Lordstown plunged 27 percent to 38 cents in morning trading in New York. Representatives for Foxconn could not be reached for immediate comment. The filing underscores the speed at which the partnership has become destabilized amid turmoil in the EV market. Just about six months ago, Foxconn agreed to invest as much as $170 million in Lordstown and take two board seats. The deal gave the EV maker much-needed capital while offering Foxconn, the Taiwanese manufacturer best known as the maker of Apple Inc.’s iPhone, a firm foothold in automotive production. Foxconn also paid $230 million for a… [...]

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