GM-backed Cruise ready for next phase of growth
CEO Kyle Vogt says the company majority-owned by GM is on track — if not ahead of — its goal to reach $1 billion in revenue by 2025.
Specialty auto insurer Hagerty trims 83 more jobs to cut costs
The cuts come after Michigan-based Hagerty reduced its workforce in December by about 6 percent, or 103 employees.
2024 Acura Integra Type S delivers 320 hp, sporty styling
Acura’s 2024 Integra Type S will go on sale in June with 320 hp, aggressive styling and significant performance enhancements.
Tesla's Q1 sales more than double those of No. 2 BMW in U.S. luxury market
Electrified vehicles accounted for nearly 17 percent of BMW’s U.S. Q1 sales.
Legislators OK $410 million for Ford, Our Next Energy plants; Gotion project still waits
LANSING — Michigan will give companies $410 million to open two electric vehicle battery plants following approval of transfers by a legislative panel on Wednesday.
The Democratic-led Senate Appropriations Committee authorized the subsidies for Ford Motor Co. ($210 million) and Novi-based Our Next Energy Inc. ($200 million) on 15-4 votes.
They did not vote on a $175 million package for Gotion Inc., a Chinese company with a U.S. headquarters in Silicon Valley, and The Right Place, a Grand Rapids-based economic development organization supporting the Gotion project.
Ford’s factory will be in Marshall, Mich., ONE’s in Wayne County’s Van Buren Township.
The Michigan Strategic Fund board previously approved the aid, part of broader incentives packages for the multibillion-dollar plants, but final legislative authorization was needed to transfer money within the Strategic Outreach and Attraction Reserve Fund. The House budget panel gave its blessing, including for the Gotion aid, in March.