VW, China partners to invest $17B in electrified vehicles
VW plans to build 15 full-electric and plug-in hybrid models based on its MEB platform with FAW, SAIC and JAC.
Cleveland-Cliffs, in bid to boost auto steel business, to buy ArcelorMittal USA for $1.4 billion
The deal comes as U.S. steel prices recover, driven by tightening supply after lockdowns hurt demand. The assets being acquired include six steelmaking facilities, three coal and coke-making operations and several other facilities.
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Prime Automotive Group sells 10 stores, settles disputes
The nation’s 11th-largest new-vehicle retailer has sold some of its dealerships outside of New England and has entered into settlement agreements with Toyota and a Subaru distributor involving another eight dealerships in the Northeast.
California's fossil fuel ban likely in for long fight
Within 15 years, the nation’s largest auto market aims to stop selling new passenger cars and trucks with internal combustion engines. The move is the first step in what legal experts say will be a long fight over the state’s authority to set vehicle-emission standards.