Electric Cars News

Italvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.

Tesla boss Elon Musk took to Twitter on Monday to say that his company had not signed a contract with Hertz, spurring a brief halt in Tesla's stock rally.

NXP Chief Executive Kurt Sievers said the company intended to focus on key areas where more chips are going into cars and where NXP believes it can hold a market position at least twice that of any competitor.

GM's South Korea unit builds about 600,000 vehicles a year, shipping many to the United States including the popular Chevrolet Trailblazer SUV, and employs about 12,000 people.

The company now plans to expand to include Arkansas and other locations in Oklahoma, for research and development, software development, customer support and finance centers.

This is the second time in recent months that an Apple executive has left for an automaker. Apple lost its head of car project, Doug Field, to Ford Motor in September.

The plant will be constructed in two phases and Xiaomi will also built its auto unit's headquarters, sales and research offices in the Beijing Economic and Technological Development Zone

The company said it plans to complete construction of its general assembly, paint, casting, stamping and body shop facilities by Dec. 31.