Mexican Media Brands
EV Startup Closes Deal on AM General Plant
SF Motors Inc. has completed its acquisition of AM General LLC's former light-vehicle assembly plant in Mishawaka, Ind.
#hybrid
Share
SF Motors Inc. has completed its acquisition of AM General LLC's former light-vehicle assembly plant in Mishawaka, Ind.
The Silicon Valley-based company, which is backed by China's Chongqing Sokon Industry Group, aims to reopen the Indiana facility “as quickly as possible” and launch production in 2019. The company plans to gradually hire back more than 400 former AM General workers over several phases.
The deal, which was announced in June, doesn’t affect AM General's plant in South Bend, Ind. That facility is best known for building early military Jeeps, Humvees and civilian-model Hummer SUVs.
SF Motors was formed in early 2016 and now has seven manufacturing and research facilities in China, Germany, Japan and the U.S. Last month the company spent $33 to acquire InEVit Inc., an EV and battery tech engineering services firm headed by former Tesla Inc. executive Martin Eberhard. A former advisor to SF Motors, Eberhard now is the company’s vice chairman and chief innovation officer.
RELATED CONTENT
-
Study: Nearly 60% of EV Sales in 2035 Will Be in China
Global demand for electric vehicles will multiply by a factor of 15 to 11.3 million units by 2035, with the Chinese market generating 57% of the total, according to the Fuji-Keizai Group.
-
Frito-Lay, Transportation and the Environment
Addressing greenhouse gas reduction in the snack food supply chain
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
