U.S. Announces $12 Billion Fund for Advanced Vehicles and Suppliers

The U.S. Energy Secretary Jennifer Granholm revealed plans for the Biden Administration to allocate $12 billion in loans and grants to automakers and suppliers, aimed at facilitating the transformation of their facilities to produce electric vehicles (EVs) and other advanced vehicle technologies.

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China Surpasses Japan as Largest Auto Exporter, Fueled by Electric Vehicle Growth

China has surpassed Japan as the largest auto exporter during the first half of the year, exporting 2.34 million vehicles compared to Japan's 2.02 million, marking the first time this has occurred at the half-year mark.

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