According to a June 12 statement, London-listed ACG Acquisition Co. is buying the assets from the private equity firm Appian Capital Advisory.

Since 2013, GM has invested over $31 billion in U.S. manufacturing and parts distribution including $2 billion in the Fort Wayne Assembly plant.

The memorandum of understanding accounted for more than half of the $10 billion of investments signed by the Kingdom and China during the Arab-China Business Conference.

By 2032, about half of the world’s buses will be entirely battery-powered as will almost three out of four buses sold, according to BloombergNEF’s seventh annual Electric Vehicle Outlook.

The automotive supply chain is a primary example of an industry severely impacted by instability and disruption.

Shipments of plug-in passenger vehicles surged to around 27 million units in 2023 as sales jumped in China and the U.S., offsetting slower growth in Europe.

BloombergNEF expects sodium to take market share from the cheapest, lowest-range end of the Chinese car market, potentially displacing 272,000 tons of demand for lithium by 2035.

Besides supplying European facilities with 50,000 tons of green steel annually, the two sides signed an MoU for the potential supply of green steel in North America too.

One of the bids comes from BYD Co. while another was made by several smaller Chinese car companies, according to people familiar with the situation.

In an official notice sent to the Pakistan Stock Exchange, Toyota Indus said it would shut down production from June 3 through June 8, 2023.