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).
HOLLAND, MI—LG Energy Solution has announced that it is investing $1.7 billion at its plant here to increase production of lithium-ion polymer battery cells and packs for EVs by fivefold. The expansion will create more than 1,200 new jobs.
DETROIT/TOKYO—General Motors and Honda recently announced plans to codevelop a series of affordable electric vehicles based on a new global architecture using next-generation Ultium battery technology.
LOVELAND, CO—EV specialist Lightning eMotors has completed a 102,000-square-foot expansion of its manufacturing facility here, in order to double production of zero-emission vehicles and powertrains to 1,500 by the end of 2022.
LAS VEGAS—Electric-autonomous-vehicle manufacturer Nuro is investing $40 million in an end-of-line manufacturing facility and a closed-course test track to commercialize and scale production of its third-generation vehicle, the R2.
BAY CITY, MI—SK Siltron CSS, a semiconductor wafer manufacturer, recently announced plans to invest $300 million over the next three years to provide manufacturing and R&D capabilities of advanced materials for electric vehicles in a new facility here.
LORDSTOWN, OH—Lordstown Motors Corp. has received more than 100,000 nonbinding reservations from commercial fleets for its Endurance all-electric pickup truck, with production scheduled to start here in September.
DETROIT–General Motors has announced that its all-electric vehicle assembly facility, Factory ZERO, is the first automotive plant in the United States to install dedicated 5G fixed-mobile network technology.
