December 2022

Canada’s Lion Electric looks to raise $50M from stock offering

Canadian electric vehicle maker Lion Electric Co. plans a $50 million stock offering to strengthen its balance sheet and expand factories. The Montreal company said the expansion will focus on factories in Joliet, Ill., and Mirabel, Quebec. Lion Electric manufactures electric buses and medium-size urban cargo trucks. Lion Electric said in a Securities and Exchange

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Redwood Materials plans massive $3.5B EV battery materials plant in S.C.

Redwood Materials plans to invest $3.5 billion to build a battery materials plant in South Carolina. The factory at Camp Hall commerce park in Ridgeville, S.C., will conduct recycling, refining and remanufacturing operations to capture and produce battery materials. The company said Wednesday the plant would create about 1,500 jobs. The plant, near Charleston, will

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Manchin urges Treasury to block ‘loopholes’ in EV tax credits

WASHINGTON — Sen. Joe Manchin is urging the U.S. Treasury Department to prevent companies from using loopholes to bypass stringent eligibility rules in the Inflation Reduction Act’s electric-vehicle tax credits. In a letter sent Monday to Treasury Secretary Janet Yellen, Manchin asked that the tax credit for commercial EVs is implemented in “a manner that

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16 Injured, Including A Five-Year-Old, In Alabama Street Racing Incident Involving Dodge Charger

One person has been detained, and 16 injured, following the events of an illegal car exhibition that took place on the evening of Friday, December 9. Sadly, a five-year-old boy is among the injured, according to local news . The accident took place on John Rogers Drive at Gun Club Road in Birmingham, Alabama, reports

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2024 Mazda CX-90 flagship will offer plug-in hybrid power

The 2024 Mazda CX-90 due for a reveal in January will offer a plug-in hybrid powertrain, Mazda said on Tuesday. The CX-90 is a three-row SUV based on Mazda’s newly developed rear-wheel-drive platform with longitudinal engine mounting, which debuted in March in the Mazda CX-60 compact crossover sold overseas. Both vehicles are part of Mazda’s

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Autonomous yard truck company Outrider creates robotic way to attach trailer brake and electric lines

Self-driving yard truck developer Outrider has developed a system to robotically connect electric and pressurized brake lines to trailers and container chassis. The Golden, Colo., company’s TrailerConnect system uses robotic arms from Yaskawa Electric Corp. and reduces the need for drivers to constantly get in and out of truck cabs to manually make the connections.

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