Trade News

General Motors and South Korean joint-venture partner LG Chem Ltd. will announce a second U.S. battery cell manufacturing plant on Friday, revealing plans for a $2.3 billion factory in Spring Hill, Tenn., three people familiar with the matter said.

The plant will use a different, more cost-effective battery chemistry than the one the companies will offer from the joint-venture plant they are building in Lordstown, Ohio, the sources said on Wednesday.

The battery will be for the Cadillac Lyriq electric crossover vehicle that GM will begin building at its nearby Spring Hill assembly plant next year, the sources said.

The timing of the Tennessee battery plant's opening is unclear, but there will be a period when the battery is supplied for the Lyriq by another LG facility until the Tennessee plant opens and it will not come from Lordstown, one of the sources said.

GM would not confirm the details and declined further comment, and a spokesman for LG d…

Audi is aiming at buyers in the upper end of the compact segment for full-electric vehicles with the Q4 e-tron unveiled Wednesday, while adding a key entry-level EV to the brand’s expanding lineup of battery-powered vehicles.

It’s the first Audi based on parent Volkswagen Group’s MEB electric-only platform that also underpins the VW ID3 compact hatchback and ID4 compact crossover.

The Q4 e-tron and the coupe-styled Q4 Sportback e-tron are built in VW’s plant in Zwickau, Germany, alongside the ID3 and ID4. Production started in March.

They have an 82-kilowatt-hour battery pack and two electric motors for a combined output of up to 295 hp and a range of up to 520 km (323 miles) under Europe's WLTP tests. The EVs will rival the Tesla Model Y as well as more mainstream electric crossovers such as Nissan’s forthcoming Ariya.

The Q4 e-tron and Q4 Sportback e-tron are expected to arrive in the U.S. toward the end of the year, Audi said in a statement. P…

Toyota Motor North America has recast its head of strategy to a new role in its information technology division and promoted another executive to take over a reorganized strategy function.

Doug Murtha, 55, who joined Toyota's executive ranks in 1992, once led the former Scion division, and most recently worked as the group vice president for corporate strategy and planning, is now the group vice president and chief business information officer for information technology, the automaker said Tuesday.

Toyota says Murtha in his new role will "support planning, prioritization and realization of new value opportunities," including "driving critical change management activity at the intersection of IT and business." He will report to Chief Information Officer Holly Walters.

Meanwhile, Tim Ingle, 52, who joined Toyota in 2002 and worked most recently as vice president for finance at Toyota Motor North America, has been promoted to a new role as group vice presid…

Top executives at the Detroit 3 and other Michigan business leaders have waded into the national debate over voting rights in the face of tighter restrictions signed into law in Georgia and new rules proposed in Michigan by Republican lawmakers.

On Tuesday, 37 CEOs and chairmen of some of the state's largest companies released a joint statement outlining broad principles they believe should be followed as Michigan lawmakers debate changes to election laws.

"Government must avoid actions that reduce participation in elections — particularly among historically disenfranchised communities, persons with disabilities, older adults, racial minorities and low-income voters," the statement reads. "Government has a responsibility to continuously improve and strengthen election administration, because public faith in the security and integrity of our elections is fundamental."

The list of signatories to the statement includes Ford Motor Co. CEO Jim Farley, General…

Canadian auto supplier Magna International expects global sales to hit as much as $45.5 billion in 2023, according to company slides posted before the company's investor day on Tuesday.

The company said it expects sales to grow to a range of $43 billion to $45.5 billion in 2023, up from $32.6 billion in 2020, it said in slides posted online.

In its annual report issued last month, the supplier said it expects global light-vehicle production to grow six percent on average per year from 2020 through 2023.

“We expect our sales to grow 10-12 percent on average per year over that time frame,” the supplier said in the report.

However, that was before the global microchip shortage grabbed a hold of the industry, idling plants around the world for weeks at a time.

In that report, the supplier said that more than 90 percent of its 2023 sales were already booked, including:

DETROIT — General Motors plans to restart production at its Spring Hill, Tenn., plant Monday — one week earlier than expected — and canceled a production pause for the Chevrolet Blazer in Mexico, the automaker said Tuesday.

Last week, GM said it would pause or limit production at six North America plants throughout April, including Spring Hill Assembly, which builds the Cadillac XT5 and XT6 and GMC Acadia crossovers, and Ramos Arizpe Assembly in Mexico, which builds the Blazer. Automakers are grappling with a global shortage of microchips.

"GM's supply chain organization has made strides working with our supply base to mitigate the near-term impacts of the semiconductor situation on both Spring Hill Assembly and Ramos Assembly," spokesman David Barnas said.

GM shut down production at Spring Hill on April 12 and had expected to take two weeks of downtime.

The automaker had planned to idle production of the Blazer crossove…