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WASHINGTON — A joint venture between General Motors and South Korean battery company LG Energy Solution is set to receive a $2.5 billion loan from the Energy Department to build battery cell factories for electric vehicles in three states.

Diesel’s national average price continued its downward path, shedding 16.4 cents to $5.268, according to Energy Information Administration data released July 25.

SAVANNAH, Ga. — The state of Georgia and local governments are giving $1.8 billion in tax breaks and other incentives to Hyundai Motor Group in exchange for the automaker building its first U.S. plant dedicated to electric vehicles near Savannah, according to the signed agreement disclosed July 22.

The saying “Time flies when you’re having fun” could likely apply to developing new engine oils. And some time has passed since the last diesel engine oil category was introduced in 2017 when the American Petroleum Institute (API) announced CK-4 and FA-4.

Ford Motor Co. has secured enough battery supply to build more than half a million electric vehicles annually by late next year, a quantum leap above the 27,140 battery-powered cars it sold in the U.S. last year.

Tesla Inc. reported second-quarter earnings that beat Wall Street estimates, reflecting the company’s progress in getting production back on track while tackling supply chain hurdles and COVID lockdowns at its factory in China.

Ford Motor Co. is preparing to cut as many as 8,000 jobs in the coming weeks as the automaker tries to boost profits to fund its push into the electric vehicle market, according to people familiar with the plan.

U.S. gasoline demand remains below where it was this time two years ago as historically high prices keep more drivers off the road than COVID-19 did in the summer of 2020.

The U.S. Postal Service plans to substantially increase the number of electric-powered vehicles it’s buying to replace its fleet of aging delivery trucks, officials said July 20.