Volkswagen has been expanding its presence across Africa, recently creating a dedicated "Sub-Saharan" region to oversee operations. The company already has manufacturing and assembly facilities in South Africa, Kenya, Rwanda, and Ghana. A similar e-tractor initiative, the GenFarm Project, is already underway in Rwanda, providing sustainable mechanized farming solutions.
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 has unveiled a $15.5 billion package of funding and loans primarily focused on retooling existing factories for the transition to electric vehicles.