Audi is the latest automaker looking to shift its strategy after the historic Inflation Reduction Act passed in August. The Inflation Reduction Act provides tax credits for buying electric vehicles in the US.
IRVINE, CA—
Rivian Automotive Inc.’s shares rose after the automaker reported progress in ramping up production and reaffirmed its goal to build 25,000 electric vehicles this year.
DETROIT—GM posted a double-digit gain in third-quarter sales on improved supplies of hard-to-find computer chips, allowing it to best Toyota Motor Corp. by some 30,000 vehicles.
BEIJING—China's Ministry of Industry and Information Technology agency said last week that the country's automobile sector is back to normal, with both output and sales in May increasing more than 50 percent from April. Major suppliers SAIC Motor and SKF concur.
STERLING HEIGHTS, MI—On Monday, Stellantis began indefinite layoffs of workers at its Sterling Stamping Plant here. A spokeswoman did not disclose how many workers will be affected.
DEERFIELD, IL—Caterpillar Inc. recently announced it will move its global headquarters to the company’s existing office in Irving, TX, from its current location here.
LEETSDALE, PA—Pittsburgh-based steel fabricator BCI Steel CO. and solar-tracker manufacturer Nextracker will hold a dedication ceremony next week to reopen the historic Bethlehem steel factory, which is being repurposed to make tracker equipment for large solar power plants.
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