The startup will deploy a fleet of Toyota Highlander vehicles retrofitted with its sensor technology and autonomous-driving software.
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Proceeds from the share sale will help Volvo shift to a direct-to-consumer sales and subscription model, while the brand this year also set an ambitious goal to go all electric by 2030.
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The utility vehicle and sedan models are concept vehicles that the manufacturer plans to build for automotive customers rather than sell under its own brand.
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NHTSA said it has received 22 complaints from vehicle owners and two field reports alleging stalls or loss of power.
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The venture will produce battery cells and modules at a factory that will have an annual production capacity of 40 gigawatt-hours.
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The automaker will invest $316 million to produce electric drive units for future Ford full-electric passenger and commercial vehicles sold in Europe.
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The factory is expected to begin production in 2025, and it will eventually supply electric vehicles and hybrids built in the region.
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Honda touts its broad range of products, from all-terrain vehicles and motorcycles to sedans, in bid to separate itself from startups like Tesla.
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After a couple of weeks that saw production cuts totaling fewer than 10,000 vehicles each, North American factories lost 84,000 vehicles last week because of the ongoing worldwide shortage of microchips.
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Battery startup Our Next Energy closed its series A funding round, raising $25 million. BMW's venture-capital arm is among the participating investors, but not the most well known.
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