Weekly roundup: Biden awards $1.1B for EV plant conversions, IBAT hits lithium milestone, Ohio joins supreme court emissions challenge

Earlier this week: The Biden Administration awarded $1.1 billion in grants to GM and Stellantis for EV plant conversions. IBAT made a significant breakthrough in lithium with novel filtration technology. Ohio joined oil companies in Supreme Court challenges against Califonia’s emissions. European Union imposes steep tariffs on China-made EVs. Ford reports a modest increase in Q2 sales driven by hybrids and EV success. Fisker seeks bankruptcy while getting approval from a judge to sell over 3,000 Ocean electric SUVs. GM to pay $145.8 million in penalties for excess emissions in 5.9 million vehicles.

Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.

1. Biden administration awards $1.1 Billion to GM and Stellantis for EV plant conversions
   The Biden administration has announced plans to award nearly $1.1 billion in grants to General Motors (GM) and Stellantis to convert existing plants for electric vehicle and component production. This initiative is part of a broader $1.7 billion effort by the Department of Energy (DOE) to support the conversion of 11 “at risk” plants across eight states, aiming to enable the production of 1 million EVs annually, retain 15,000 jobs, and create 3,000 new positions. Read More

2. IBAT achieves milestone in lithium production with novel filtration technology
According to an exclusive Reuters report, International Battery Metals (IBAT) has made a significant breakthrough in the clean-energy transition by becoming the first company to produce lithium commercially using a novel filtration technology. This new direct lithium extraction (DLE) method is expected to lower costs and accelerate the supply of lithium for electric vehicle (EV) batteries. At a site in rural Utah, controlled by U.S. Magnesium, IBAT began producing nearly 5,000 metric tons of lithium annually using its portable DLE plant. Read More

3. Ohio Joins Oil Companies in Supreme Court Challenge Against California’s Emission Limits
In a major legal challenge, the state of Ohio, alongside major oil companies and business groups, is challenging California’s authority to set stricter greenhouse gas emissions standards for vehicles. This move, petitioned to the U.S. Supreme Court, seeks to overturn decisions that underpin California’s ambitious environmental regulations. Read More

4. European Union Imposes Steep Tariffs on China-made Electric Vehicles
In a move set to redefine the automotive landscape and EU-China relations, the European Commission has announced steep tariffs on China-made battery electric vehicles (BEVs) starting 5 July. This decision follows a nine-month investigation revealing extensive subsidies across the entire BEV supply chain in China, enabling producers to offer their vehicles at significantly lower prices than their European counterparts. Read More

5. Ford Reports Modest Increase in Second-Quarter Sales Driven by Hybrid and EV Success
Ford Motor Co. has reported a 0.8% increase in second-quarter sales, with 536,050 vehicles sold. This modest but significant growth is largely attributed to the strong performance of the company’s hybrid vehicle lineup, including the popular Maverick hybrid truck. Read More

6. Fisker Seeks Bankruptcy Judge Approval to Sell Over 3,000 Ocean Electric SUVs
Fisker Inc., the electric vehicle startup, has taken a significant step in its ongoing bankruptcy proceedings by seeking approval from a bankruptcy judge to sell over 3,000 of its Ocean electric SUVs. Read More

7. General Motors to Pay $145.8 Million Penalty for Excess Emissions in 5.9 Million Vehicles
In a significant regulatory crackdown, General Motors (GM) has been levied with a $145.8 million penalty following a comprehensive government investigation that discovered excess emissions in approximately 5.9 million of its vehicles. Read More

8. Impel acquires Outsell to create groundbreaking AI sales/marketing platform
Impel, the forefront leader in AI-driven customer lifecycle management for the automotive sector, has announced the acquisition of SaaS provider Outsell in a landmark deal exceeding $100 million. This transaction, comprising cash and Impel equity, marks the inception of the industry’s first comprehensive AI sales and marketing automation platform, serving a combined network of over 8,000 dealers across 51 countries. Watch the full segment here. 

9. How dealers can unlock growth in their service departments – Don Andres | Auto SCT Consulting & Training
Having a service team that engages customers is crucial for success in that department. Yet, many dealerships are still leaving money on the table by overlooking key opportunities. On today’s episode of CBT Now, we’re learning why with his new book titled Why Auto Service Departments Fail to Grow: The Real Reasons Why & the Simple Techniques for Consistent Growth is Don Andres, Author & Owner/President of Auto SCT Consulting & Training. Watch the full segment here. 

10. Andy Wright reveals insight into Hyundai-Amazon partnership and CDK ransomware attack
    On today’s episode of Inside Automotive, Andy Wright, Managing Partner of Vinart Dealerships, joins host Jim Fitzpatrick. In this insightful interview, Wright delves into the latest developments in the Hyundai-Amazon partnership, the ramifications of the recent CDK ransomware attack, and the evolving dynamics of the automotive market in 2024. Stay tuned as we explore how these factors shape the future of automotive retail and what it means for dealers nationwide. Watch the full segment here.