Biden team plans for chips funding even before Congress acts
The Biden administration is laying the groundwork to spend roughly $52 billion on semiconductor research and manufacturing even as it’s awaiting congressional approval of the funding.
EV startup Lucid Motors risks SPAC deal collapse
SPAC company Churchill Capital Corp. IV adjourned its Thursday shareholder meeting that was to determine the fate of the Lucid merger, pushing the decision back to the following day.
Supplier ZF wins $6 billion axle contract, will hire 250 in Michigan
The German supplier, which has its North American headquarters in suburban Detroit, said it will produce solid beam axles for pickups, SUVs and performance sedans until 2027.
VW investors approve $339 million settlement with former execs
The settlement marks a major milestone in the carmaker’s efforts to turn a page on the scandal, which has cost it more than $37 billion.
Amazon-backed Rivian confirms plan for second U.S. assembly plant
Multiple U.S. states have bid for the plant — dubbed “Project Tera” in documents — which will be announced in a couple of months and break ground early next year, sources told Reuters.