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WASHINGTON — While Republicans capped 2024 with a presidential victory, the Biden administration has been rushing to advance as many infrastructure and microchip projects as it can.

After winning breathing room with its bankers to look for additional funding earlier in December, Lion said it failed to raise any cash and was now in default on debt repayments.

ATP is one of the largest owners in Northvolt with a stake of about 5%. The value of that holding “probably won’t be very far from zero.”

Almost 600 of the Volvo Group AB unit’s battery-electric straight trucks and tractors are now operational in the U.S. and Canada, collectively driving more than 200,000 miles every week.

Ascend Elements said it will start to market lithium carbonate, a key component in EV batteries, that it has been able to recycle and refine at its Covington, Ga., facility.

Days after laying off 400 staff and halting production at its Joliet, Ill., bus manufacturing plant, Lion continued its ongoing fundraising push with the building sale.

DETROIT — The reliability of electric vehicles and plug-in hybrids has dramatically improved, narrowing a wide gap with gas-powered automobiles, according to the latest survey by Consumer Reports.

Hyundai announced Dec. 4 it deployed 21 of its Xcient hydrogen fuel cell electric trucks in Georgia to ferry supplies between the ports and the automaker’s newly opened $7.6 billion EV factory.

DETROIT — General Motors has reached an agreement to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Mich.

Germany will assume more than 600 million euros ($629 million) of debt that its development bank extended to Northvolt AB for the construction of a battery plant in the country.