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...When GM operated an assembly plant in Lordstown, workers there could make around $30 per hour, the UAW said....
...Lordstown Motors has filed for bankruptcy protection, marking the end of the road for an ailing electric truck manufacturer that promised a corner of the US Rust Belt hundreds of jobs tied to the auto industry...
...The flagship truck of Lordstown Motors is known as the Endurance, a metaphysical state the electric vehicle maker has notably failed to achieve itself....
...Corporate results: Japan’s Nidec Corporation, which manufactures the electric motors used in hard-disk drives, China Tourism Group and Ping An Insurance Group announce quarterly results....
...Last November, upstart EV maker Lordstown Motors was in bad shape. It was supposed to get a rescue from a $170mn common and preferred stock financing deal with Foxconn....
...Lordstown Motors filed for bankruptcy on Tuesday, marking the end of the road for a troubled electric truck manufacturer that promised a corner of the US Rust Belt hundreds of jobs tied to the automotive...
...GM has one battery joint venture in Lordstown, Ohio, and another three are planned or are under construction....
...Corporate earnings: Japan’s Mitsubishi, Nintendo and Toyota Motor and China’s Semiconductor Manufacturing International Corporation report results....
...Lordstown Motors, a business formed in order to save a defunct General Motors factory in Ohio, filed for bankruptcy over the summer, followed by China’s WM Motor more recently....
...The striking plants are far from the Lordstown, Ohio factory operated by a joint venture between General Motors and LG Energy Solutions that makes batteries for GM’s EVs, whose workers are not covered by...
...Japan’s Topix fell 0.8 per cent in early trading ahead of earnings releases from Toyota Motor and Mitsubishi Corporation, which were both down 0.8 per cent. South Korea’s Kospi shed 0.6 per cent....
...In the early postwar decades, America’s large multi-divisional corporations, of which General Motors was the best-known example, were seen in Europe as the model for how big business should be run....
...The six-year-old company’s market debut comes after other EV start-ups that listed through Spacs in the US, including Lordstown Motors and Faraday Future, have struggled to raise more cash and in some cases...
...Foxconn and Lordstown Motors closed a deal in May where the EV maker sold its Ohio factory for $230mn, and Foxconn agreed to manufacture Lordstown’s flagship pick-up truck, Endurance....
...Power, China Shenhua Energy, CSR Corporation, Great Wall Motor, Postal Savings Bank of China, SAIC Motor, Tsingtao Brewery and Yanzhou Coal Mining....
...Best known for making Apple’s iPhone, Foxconn said it will buy $70mn in common stock from Lordstown Motors, and up to $100mn in newly created preferred stock....
...Results: General Motors, Philip Morris International, PepsiCo, Spotify and Visa are among the companies reporting....
...Berkshire also exited its investments in payments business StoneCo, insurers Globe Life and Markel Corporation, and homebuilder DR Horton....
...The US International Development Finance Corporation (DFC) has invested $105mn into TechMet, a $1bn critical minerals fund, which has pledged $50mn of equity for Rainbow Rare Earths, the company behind the...
...Lordstown Motors filed for bankruptcy protection in June, while Arrival and Canoo have issued “going concern” warnings that they expect to run out of funds within a year....
...General Motors, the world’s largest automobile maker, was losing billions....
...While we are relatively unbothered by the failure of Lordstown Motors, it would trouble us deeply if Ford and General Motors were to stumble....
...One we missed: IBM and the Holocaust: The Strategic Alliance Between Nazi Germany and America’s Most Powerful Corporation, by Edwin Black....
...The next four crude cargoes will be supplied by the state-owned oil company the Nigerian National Petroleum Corporation (NNPC) in “two to three weeks” and ExxonMobil will supply the last of the initial six...
...General Motors plans to open a fourth battery plant in the US heartland, part of its programme to chase Tesla on electric vehicle sales by following a similar playbook....
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