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Battery-electric truck and SUV startup Rivian has added a third, large investor this year with a $350 million stake from Cox Automotive, the company announced today.
Ford Motor Co. is investing $500 million in Rivian and will use its "skateboard" platform for a new battery-electric vehicle to bring expanded electrification to its lineup.
Meritor has announced an additional strategic investment in TransPower, an electrification technologies provider for large commercial vehicles, to support future growth.
A Memphis, Tennessee, fleet is investing $84 million to turn a derelict shopping mall into its new headquarters facility.
General Motors has invested $20 million two Michigan assembly plants to increase capacity to produce its 10-speed automatic transmission and crossovers such as the Chevrolet Traverse, the company has announced.
Volvo Group Venture Capital, a subsidiary of Volvo Group, has announced an investment in Momentum Dynamics, a compay that is developing high power wireless charging technology for electric vehicles.
Amerit Fleet Solutions closed a minority investment from Element Fleet Management Corp., which will expand its maintenance services for customers of the fleet management company.
Ford Motor Co. has established a new self-driving-vehicle business unit, and will invest $4 billion through 2023 to better organize and accelerate its efforts to commercialize autonomous vehicles, Ford has announced.
Chinese auto manufacturer Geely Holding has purchased a $9 billion stake in Daimler AG, making it the largest investor in the German automaker, according to a report in Bloomberg.
Ford will invest $11 billion in vehicle electrification, and plans to expand its current electrified vehicle portfolio to a total of 40 vehicles.