SMYRNA, TN—A good, old-fashioned price war may be just what’s needed to give a jolt to the electric vehicle market in North America. Nissan, Ford and GM have each lowered the price of their electric vehicles by thousands of dollars, spurring increases in production.
GRAND BLANC TOWNSHIP, MI—Magna E-Car Systems’ creation of a new assembly plant here helped Michigan add 14,600 manufacturing jobs in 2012, according to Manufacturers’ News Inc.
WASHINGTON—The U.S. Department of Energy has seized $21 million from troubled automaker Fisker Automotive Inc. just weeks after the company laid off three-fourths of its workers amid continuing financial and production problems. Fisker had received $192 million in federal loans before a series of problems led U.S. officials to freeze the loan in 2011.
DETROIT—Sales of lithium ion batteries are expected to grow from $1.6 billion in 2012 to $22 billion by 2020, according to a report from Pike Research.
DETROIT—Wanxiang Group, a large Chinese auto parts maker, has won a high-stakes auction for the assets of A123 Systems, the bankrupt American battery maker.