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SEOUL—Kia Corp. has opened a state-of-the-art factory that will enable it to ramp up production of electric vehicles.

WASHINGTON—Monroe Capital LLC announced plans to launch a new fund, the Drive Forward Fund LP, valued at up to $1 billion to support smaller auto suppliers as the industry shifts from gasoline to electric vehicles (EVs). 

WASHINGTON—The U.S. Department of Energy plans to invest an additional $3 billion to boost the domestic production of advanced batteries and materials.

ANN ARBOR, MI—Contrary to popular belief, electric vehicles are not eliminating jobs in auto assembly plants, according to research conducted by the University of Michigan.

GENEVA, Switzerland—The World Intellectual Property Organization has released an international patent application from Tesla Inc. for a “Modular Vehicle Architecture for Assembly Vehicles.”

JACKSONVILLE, FL—Benteler Group’s Holon division plans to build a factory here that will assemble autonomous shuttles.

NEW YORK—According to a new study conducted by ABI Research, BYD Auto Co. is the top electric vehicle manufacturer in the world, just ahead of Tesla Inc.

CHARLOTTE, MI—Builtmore Contract Manufacturing has started to assemble Isuzu’s NRR-EV truck at its facility here.

Volvo Cars has been producing gas-powered vehicles in Ridgeville, SC, since 2018. Now, the factory is assembling two new electric SUVs: the Volvo EX90 and the Polestar 3.

OAK RIDGE, TN—Engineers at Oak Ridge National Laboratory have developed a thin, flexible, solid-state electrolyte that may double energy storage for next-generation electric vehicles and portable electronic devices.