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.”