The German carmaker said that it would only be able to deliver a total of between 9 million and 9.5 million cars in 2023.

Porsche executives are in talks with advisors and investors to help raise between €2 billion and €3 billion for the factory.

GM's CEO said she was disappointed with the supplier and that the company has been surprised by the minimal progress made by the unnamed organization.

A spokesperson for the Dutch Coastguard said the fire was likely caused by one of the 25 electric vehicles being transported by the vessel.

If Germany approves the expansion plans, Tesla’s gigafactory will be able to increase its battery storage capacity to 100 gigawatt hours per year from 50 gigawatt hours currently.

Tata will invest over £4 billion ($5.15 billion) to build the battery cell gigafactory factory, which is expected to create up to 4,000 jobs.

In April, the U.S. Environmental Protection Agency proposed more stringent standards for greenhouse gas emissions from heavy-duty vehicles, beginning in model year 2027. 

The factory will reportedly be able to produce 500,000 electric vehicles annually that have a starting price of Rs 20 lakh (about $24,360).

Toyota thinks it will be able to produce solid-state batteries for electric vehicles as early as 2027, according to the Financial Times.

GM sales rose almost 19% during the second quarter of 2023 while Toyota claimed its sales grew by 7.1% during the quarter.