The company will add EDM production in Szentgotthard, Hungary, targeted to begin in late 2026.
GM and Honda will produce fuel cells that will be two-thirds less expensive compared to Honda’s 2019 Clarity fuel cell.
It will invest $1.3 billion at its flagship Kentucky facility for future electrification efforts, including assembly of an all-new, three-row battery electric SUV for the U.S. market.
The Active Air Skirt (AAS) helps improve driving range and stability of EVs, the companies said.
The company’s I-Beam XFC includes a proprietary “100in5” cell technology, which enables charging 100 miles of range in just five minutes.
The companies will develop a Na-ion battery with a potential of up to 60 volts to support automotive applications.
Cordes & Company, as receiver of the Company, has entered into an Asset Purchase Agreement to sell substantially all of the assets of the company for $12.6 million in cash.
Americans are expected to buy close to 1.3 million electric vehicles this year, or 10% of global sales.
EVs represent the fastest-growing car sales category, holding a 7.6% share of the total U.S. vehicle market in 2023, Kelly Blue Book reports.
The Fort Worth factory is currently assembling Level 2 AC chargers with variable current settings for up to 11kW output power.
The plan includes the installation of at least 500,000 public chargers by 2030.
A joint venture with Shaanxi Fast Auto Drive Group will develop a high-voltage inverter for commercial vehicles.