Kia said on Wednesday it will invest more than $200 million in its assembly plant in the U.S. state of Georgia to begin production of its electric EV9 SUV next year. The Korean automaker said the company will add about 200 jobs to build the three-row SUV alongside four other models at the West Point,…
Toyota to Invest $2.1 Billion More in North Carolina Battery Plant, Will Build Big SUV at Factory in Kentucky
June 1, 2023
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FRANKFORT, Ky.—Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that’s under construction near Greensboro, North Carolina. The plant will supply batteries to Toyota’s huge complex in Georgetown, Kentucky, which will build Toyota’s first U.S.-made electric vehicle, a new SUV with three rows of seats. The plans, announced Wednesday, won’t…
Activist Investor Elliott Pushes for Changes at Goodyear
Activist investor Elliott Investment Management L.P. disclosed a large investment in Goodyear Tire & Rubber Co. on Thursday and said it wants the company to strengthen its financial position by refreshing the board, selling its stores, and conducting an operational review. Elliott holds a 10 percent stake in the 125-year-old company, making it one of…
Toyota to Invest $338 Million in New Hybrid, Flex Car in Brazil
SAO PAULO—Toyota Motor Corp. said on Wednesday it will invest 1.7 billion reais ($337.68 million) to manufacture a new hybrid, flex-fuel compact car in Brazil, which will run on both gasoline and ethanol in addition to its electric engine. The Japanese carmaker has been betting big on the segment in the South American country, where…
Eli Lilly to Invest Additional $1.6 Billion in 2 New Plants
Eli Lilly and Co. said on Monday it will invest an additional $1.6 billion at its two new manufacturing sites in Indiana, United States to support the manufacturing of its recently approved cancer drug, Jaypirca, among others. The company’s total investment commitment in the facilities now stands at $3.7 billion, Eli Lilly said. Lilly has…
Stellantis to Invest $155 Million in US to Produce New Electric Drive Modules
MILAN—Stellantis said on Tuesday it will invest a total of $155 million in three plants located in Kokomo, Indiana, to produce new electric drive modules (EDM) that will be fitted in electric vehicles which the carmaker will assemble in North America. Production is expected to start in the third quarter of 2024, following retooling, the…
Carmaker BMW to Invest Around $870 Million in Mexico in EV Push
SAN LUIS POTOSI, Mexico—German automaker BMW will invest 800 million euros ($866 million) in the central Mexican state of San Luis Potosi to produce high-voltage batteries and fully electric “Neue Klasse” models, the carmaker said Friday. The expansion, set to add around 1,000 new jobs at its operations in the Mexican state, is BMW’s latest…
Amazon’s AWS to Invest $35 Billion in Virginia
WASHINGTON—Amazon.com Inc.’s cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In 2021, AWS said from 2011…
Nestle to Launch New Ukraine Facility in Rare War-Time Investment
KYIV—Nestle will invest 40 million Swiss francs ($42.88 million) to launch a new production facility in western Ukraine, the company said on Monday. Nestle is one of very few international companies to announce new investments in Ukraine since Russia invaded the country in February 2022. “This is an important move for Nestlé, taken in a…
US Core Capital Goods Orders Surge, Consumer Confidence Rises Further
WASHINGTON—New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment despite higher interest rates, which could keep the economy on a moderate growth path. Some of the largest gain in orders in seven months reported by the Commerce Department on Tuesday, however, reflected higher…
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