BANKRUPTCY

Canada's Hematite has filed for bankruptcy in both Canada and the US. The company manufactures insulators, plugs, among other parts for Toyota, FCA, and Ford.

CHANGE IN MANAGEMENT

Trevor Milton, the founder of Nikola, resigned amid accusations of false claims about its technology. Stephen Girsky, a former vice-chairman of GM, will take over as chairman.

INDUSTRY DIRECTIONS

Tesla's "Battery Day" event announced the company is phasing out the use of cobalt, an upcoming North American cathode plant, and "tabless" batteries to enable Tesla to release a $25k EV.

Amazon's driverless car subsidiary Zoox has received a permit from California to test its vehicles without an in-car backup driver. It allows the company to test the cars on specified streets near its Foster City headquarters.

LITIGATION

German prosecutors have charged another eight Volkswagen employees over their involvement in the emissions scandal.

Locals near Tesla's planned new plant in Germany have submitted more than 400 objections to the project. The complaints cover a range of issues, from water usage to noise pollution.

MERGERS, VENTURES, ACQUISITIONS

Bankrupt Honeywell spin-off, Garrett Motion, will be purchased by KPS Capital Partners, a private equity firm.

Continental and Osram are dissolving their lighting solutions joint venture.

Chinese ride-hailing company Didi Chuxing is teaming with automaker BYD to make customized EVs for its transport business by the end of 2020.

Michigan utility companies DTE Energy and Consumers Energy, along with four other regional utility suppliers, will collaborate on a network of EV fast-charging stations spread from Michigan to Kansas.

Chinese automaker Geely has unveiled a new EV architecture that it will offer as an open-source platform for other manufacturers to use. They spent $2.65B developing the platform.

LeddarTech is acquiring the assets of Phantom Intelligence. Both Québec City companies focus on ADAS systems.

PLANT CLOSING

Ford is closing its plant in Bridgend, England today after 40 years of operation. The closure will affect around 1k jobs.

PLANT DISASTER

American Axle's Colfor Manufacturing plant in Malvern, Ohio, experienced a significant fire earlier this week. The supplier is still assessing the impact of the damage and coordinating plans to protect its customers' continuity of supply.

PLANT EXPANSION

Daimler may convert its Berlin and Stuttgart factories to produce digital components and electric powertrains. It is in talks with German labor unions discussing cost-saving measures and the planned transition.

PLANT OPENING

Hyundai is investing $138M into a new plant in Vietnam that will boost its production capacity by 140%. The plant will open in 2025.

PRODUCTION INCREASE

Germany's BMW will expand its Dingolfing and Leipzig facilities to produce EV battery modules and components.

REGULATION

California Governor Gavin Newsom has ordered state regulators to develop a plan that would ban sales of new gasoline-powered passenger cars and trucks by 2035.

The Michigan House passed a bill this week to prevent EV manufacturers other than Tesla from selling directly to customers in the state. Rivian's VP of public policy James Chen told the House panel on Thursday, "...what Michigan is doing is applying the law one way to one manufacturer and applying the law another way to another manufacturer, which is unconstitutional."

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