U.S. launches $45 million program for EV battery development
The D.O.E. said it is launching the Electric Vehicles for American Low-Carbon Living program with $45 million to support production of advanced EV batteries.
KAR Global close to finalizing ADESA U.S. sale to Carvana
KAR expects to finalize the sale of ADESA to Carvana within the next week. KAR CEO Peter Kelly confirmed the timeframe in the company’s first-quarter earnings release. KAR also reported an $8.4 million net loss in the quarter.
Analysts calls for shock tactics to scare lawmakers into passing meaningful home insurance reform
An insurance advisory firm is calling for reinsurers to withhold capacity needed by Florida insurance companies to ensure all of their policyholders are covered for the upcoming hurricane season. Florida experts say such a strategy would lead to chaos.
Porsche leads $400M investment in EV battery startup
The investment in Group14 Technologies comes after Porsche raised its EV sales targets for 2030 to more than 80 percent of global deliveries.
Toyota finds a way to make its kaizens faster
Invisible AI has developed a sophisticated motion capture device that Toyota will begin using on a widespread basis across its plants to improve quality and safety and increase efficiency.