Samsung SDI and General Motors (GM) have announced plans to invest $3.5 billion USD to build a joint electric vehicle battery factory in Indiana, United States. According to reports, the manufacturing plant is expected to have an annual production capacity of 27 gigawatt hours (GWh) and plans to expand to 36 GWh as mass production…
Hyundai: $28 Million EV Assembly & Battery Facility
Hyundai Motor Company has announced plans to invest $28 million USD in Thailand to set up a facility for assembling electric vehicles and batteries. The report further mentions that the facility will be located southeast of Bangkok, Thailand’s capital city, and is scheduled to start production in 2026. Thailand’s strong existing supply chain will allow…
BYD: $1 Billion Manufacturing Plant In Turkey
BYD, the Chinese automotive company, has announced plans to set up a manufacturing plant in Turkey worth $1 billion USD as part of the company’s expansion outside China. According to reports, the plant will have the capacity to manufacture 150,000 vehicles annually. It is expected to start production by the end of 2026 and will…
The First All-Electric NASCAR
NASCAR (National Association of Stock Car Auto Racing) is a popular auto racing organization in the United States. It was founded in 1948 and is headquartered in Daytona Beach, Florida. It is considered to be one of the top-ranked motorsports organizations in the world and is one of the largest spectator sports in America. According…
Volkswagen: $5 Billion Investment In Rivian
Volkswagen Group has announced plans to invest up to $5 billion USD in Rivian, starting with an initial investment of $1 billion USD. The additional $4 billion USD will be invested over time. According to reports, this investment will help create a joint venture between Volkswagen and Rivian to develop software technology and electrical architecture…
IKEA: $4.5 Million Investment In Australia
IKEA is a Swedish multinational conglomerate that specializes in affordable, stylish, and functional home furnishings and accessories, kitchen appliances, and various other goods and home services. It was founded in 1943 and is headquartered in the Netherlands. As of 2008, IKEA has been the world’s largest furniture retailer. According to reports, IKEA has announced plans…