WASHINGTON—President Joe Biden has signed the much-anticipated Inflation Reduction Act, which promises to spur domestic investment in electric vehicle technology. The bipartisan legislation includes automotive manufacturing and consumer purchase incentives to expand vehicle electrification in the United States.
CHICAGO—Amazon has unveiled its new package delivery van produced by Rivian Automotive Inc. at its assembly plant in Normal, IL. The 23-foot-long electric vehicles are hitting the streets in Baltimore, Chicago, Dallas, Kansas City, San Diego, Seattle, St. Louis and other elsewhere.
LORDSTOWN, OH—Foxconn has signed an agreement to manufacture Monarch Tractor’s battery packs and electric agricultural equipment at its assembly plant here.
San Diego has one of the richest aerospace heritages of any city in America. Ryan Aeronautical Co. built Charles Lindbergh’s “Spirit of St. Louis” aircraft in the mid-1920s. During World War II, Consolidated Aircraft Corp. mass-produced planes such as the B-24 Liberator and the PBY Catalina.
Traditionally, electric traction motors use permanent magnets made with rare-earth metals. However, materials such as dysprosium and neodymium are a limited resource.
DEARBORN, MI—Ford has announced a series of initiatives for sourcing battery capacity and raw materials that will enable the automaker to produce 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.