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Electric vehicle maker Rivian raises $2.5bn in latest funding round

American electric vehicle startup Rivian has closed a $2.5 billion fundraising round led by investors Amazon, Ford Motor and T. Rowe Price. The funding round...

Toyota to halt Japanese subsidiary plant production due to parts shortage

Toyota Motors, the Japanese leading automotive company, has announced that a subsidiary’s plant will be closed for a total of five days due to...

Volvo Cars to buy its parent firm Geely’s stake in China

Swedish premium automaker Volvo Cars has signed an agreement to buy out its parent company Geely Holding from their joint ventures in China in...

Tesla supercharger will be open to all EVs later this year;...

American electric vehicles (EV) and battery maker, Tesla is planning to open its global network of superchargers to other EVs later this year, chief...

McLaren looks to raise additional $620mn to recover from COVID-19

British Supercar makers, McLaren Finance aims to raise $620 million through a bond issue, extending its funding spree as it strives to recover losses...

Honda willing to form new alliances to make electrification profitable

Honda Motors, a popular Japanese automaker, has stated its willingness to develop new alliances in order to make electrification profitable. The decision highlighted the...

British luxury carmaker McLaren gets $551mn from Saudi PIF & US-based...

British automotive manufacturer McLaren Group has secured a $758 million equity investment, with most of the fund raised from Saudi Arabia's Public Investment Fund...

Rivian pushes deliveries of R1T electric pickup to September

American eCommerce giant Amazon-backed electric vehicle (EV) startup Rivian Automotive will delay the first deliveries of the long-awaited pickup truck by more than a...
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