MOSCOW—Nissan will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), taking a loss of around $687 million. The decision marks the latest costly exit from the country by a global company.

NEW BRAUNFELS, TX—Continental has officially opened a new, $110 million assembly plant here. The factory is expected to employ more than 500 people.

VAN BUREN TOWNSHIP, MI—Our Next Energy (ONE), a Michigan-based energy storage technology company, will invest $1.6 billion to build a new battery cell manufacturing plant here.

Audi is the latest automaker looking to shift its strategy after the historic Inflation Reduction Act passed in August. The Inflation Reduction Act provides tax credits for buying electric vehicles in the US.

Selecting a conveyor for an automation project is certainly not a “one-size-fits-all” scenario. Automation applications are incredibly diverse, and the options and features available on conveyors reflect that. Some industries have specific health and safety requirements, while others are less restrictive. Some will need a certain feature for the automation application to work, while others are more flexible. 

IRVINE, CA— Rivian Automotive Inc.’s shares rose after the automaker reported progress in ramping up production and reaffirmed its goal to build 25,000 electric vehicles this year.

DETROIT—GM posted a double-digit gain in third-quarter sales on improved supplies of hard-to-find computer chips, allowing it to best Toyota Motor Corp. by some 30,000 vehicles. 

AVON LAKE, OH—Ford will receive $205 million in incentives to expand its Ohio Assembly Plant here, where it plans to make electric vehicles.

ST. PETERSBURG, Russia—Toyota has decided to end vehicle production at its assembly plant here.