A deal with Putin leaves Renault trapped in Russia
Renault has lost about a quarter of its market value in the wake of Russia’s invasion of Ukraine and it’s paying a heavy price for a $1 billion deal sealed in 2007 with a top ally of Putin.
Honda and Sony to build, sell EVs by 2025
Sales of the first EV model from a new joint company are expected to start in 2025. Honda will be responsible for manufacturing, while Sony will develop the mobility services platform.
Detroit automakers, UAW drop mask mandate at most plants
The union and automaker’s joint task force said late Thursday that all workers regardless of vaccination status could remove face coverings if their plant is not in a high-risk area as defined by the Centers for Disease Control and Prevention.
Auto supplier Magna suspends Russian operations
Magna has a significant presence in Russia, with six plants and about 2,500 employees in the country.
Panasonic planning electric vehicle battery plant in U.S.
Panasonic is looking to purchase land in Oklahoma or Kansas for a massive factory to make a new type of EV battery for Tesla.