Volkswagen Group has started construction on its Cdn $7-billion battery cell manufacturing plant in St. Thomas, Ont., barreling ahead with the megaproject despite global trade tensions and uncertain short-term prospects for North America’s electric-vehicle market. The automaker’s battery unit PowerCo put ceremonial shovels in the ground at the site Oct. 28, several weeks after construction crews began laying formwork and rebar for the plant’s foundations. PowerCo CEO Frank Blome said the “big milestone” k ...

CATL's profit jumped in the third quarter, as the world’s largest maker of electric vehicle batteries defended its lead in China and pushed further into overseas markets https://t.co/EZF8nb7k8E ...

Core Insights - The Trump administration has acquired direct ownership stakes in five major publicly traded companies as part of a national security strategy to secure domestic supply chains for semiconductors, critical minerals, and steel [4][9]. Group 1: Government Investments - The Department of Defense (DoD) entered a public-private partnership with MP Materials to counter China's dominance in the rare earth market, acquiring a 15% stake, making it potentially the largest shareholder [1][7]. - The administration converted previously awarded CHIPS Act grants into a $5.7 billion investment for a 10% equity stake in Intel Corp, aimed at preventing a potential spinoff of its unprofitable foundry business [2][3]. - The government also acquired a 10% stake in Lithium Americas Corp as part of negotiations to restructure a $2.26 billion federal loan for the Thacker Pass lithium mine, expected to be the largest lithium operation in the Western Hemisphere by 2028 [7]. Group 2: Stock Performance - MP Materials' stock price increased from $45.11 to $74.33, a gain of 64.77% since the government's stake acquisition on July 11 [7]. - Lithium Americas' stock advanced by 20% from $7.04 to $8.45 following the government's stake acquisition on October 1 [7]. - Trilogy Metals' stock surged 215.30% in after-hours trading following the announcement of a 10% stake acquisition through a $35.6 million investment [8]. Group 3: Strategic Implications - The acquisition of a "golden share" in US Steel Corporation grants the U.S. government permanent veto authority over key corporate decisions, reflecting a significant shift in government involvement in key industries [4][18]. - The administration's strategy may extend to acquiring stakes in major defense contractors, indicating a broader approach to securing domestic supply chains [9].

South Korean automaker Hyundai Motor Group (HMG) has confirmed that it expects the raid by US immigration authorities on the construction site of its new electric vehicle (EV) battery manufacturing JVe with South Korea’s LG Energy Solution, in the US state of Georgia, will likely delay completion of the plant by up to three months. The HL-GA Battery Company plant was scheduled to be completed by the end of the year, to supply batteries to the newly-built Hyundai Motor Group Metaplant America nearby, which ...