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  1. News from Drive Tesla Canada
    GM confirms $7 billion investment to make Michigan its EV development and manufacturing hub General Motors is betting big on Michigan. The US automaker will invest $7 billion in four manufacturing facilities. This news confirms the rumours we reported earlier this month and last week. In...
  2. News from Drive Tesla Canada
    State of Michigan confirms planned GM investment of $6.5 billion According to reporting by Forbes, General Motors (GM) is investing a further $6.5 billion in the State of Michigan. State documents published Friday show that GM and Ultium Cells are planning an investment in electric vehicle and...
  3. News from Drive Tesla Canada
    Ford's investment in Rivian will add $8.2 billion to their Q4 2021 bottom line Ahead of its Q4 and 2021 earnings report, Ford has said it expects to see a $8.2 billion boost to their bottom line thanks to their investment in Rivian. The influx of money is the result of the Detroit-based...
  4. News from Drive Tesla Canada
    GM wins tax break for $1.3 billion plant expansion in Orion Township Orion's Township board of trustees approved a 12-year tax break for General Motors (GM) potential expansion at their Orion assembly plant. The $1.3 billion expansion could be used for battery assembly and vehicle assembly...
  5. News from Drive Tesla Canada
    SpaceX raised over $1.5 billion in funding in 2021 SpaceX had a very good 2021, both on the launch pad and in terms of private funding. The company raised over $1.5 billion this year, adding to the $2 billion it raised in 2020. Back in February, SpaceX raised $850 million. Then, in April, the...
  6. News from Drive Tesla Canada
    Elon Musk says he will pay over $11 billion in taxes this year, more than any American in history While Elon Musk continues to get lambasted by politicians for being a "billionaire freeloader", the CEO confirmed on Sunday just how much he will pay in taxes this year. A few days after saying...
  7. News from Drive Tesla Canada
    Toyota shifts gears and commits $70 billion to electrify lineup Toyota has been hesitant to embrace the electric revolution, but they appear to have shifted gears at least somewhat by announcing a $70 billion investment to electrify their lineup. At a press conference on Tuesday, Toyota CEO...
  8. News from Drive Tesla Canada
    Lucid Group details strong Q3 and has $4.8 billion in cash Lucid released their Q3 financial results, and the company looks to be in a solid financial position after its SPAC merger and private investment in public equity (PIPE). The company noted that the closing of the de-SPAC reverse merger...
  9. News from Drive Tesla Canada
    Elon Musk follows through and sells over $1 billion of his Tesla (TSLA) shares Elon Musk has followed through on his promise and sold a large portion of his Tesla (TSLA) shares. According to two Form 4 filings with the U.S. Securities and Exchange Commission published this afternoon, Musk sold...
  10. News from Drive Tesla Canada
    Rivian (RIVN) goes public and hits $100 billion valuation Shares of Rivian (RIVN) shot out of the gate Wednesday, rising to as much as $119 during trading, before settling down to $100.73 at the closing bell. The price far exceeded the automaker's targeted range of $72 to $74 announced...
  11. News from Drive Tesla Canada
    Rivian boosts IPO range, aiming for a $65 billion valuation On Friday, Rivian significantly raised the expected offer price of its shares in its upcoming IPO. Earlier this week, the company was looking at $62 per share, putting their valuation around $53 billion. However, the company now...
  12. News from Drive Tesla Canada
    Rivian seeks $60 billion valuation, hopes to raise up to $9.6 billion through IPO According to a new regulatory filing, Rivian is hoping to raise as much as $8.4 billion through its initial public offering (IPO) later this year. To raise that much money the company is planning to offer 135...
  13. News from Drive Tesla Canada
    Elon Musk now worth $281 billion as Tesla (TSLA) surges to all-time high Before yesterday Tesla CEO Elon Musk was already the wealthiest person in the world. The big boost in Tesla (TSLA) share prices yesterday cemented that status even further as his net worth now stands at $281 billion. That...
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