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A Rivian-backed startup developing small electric vehicles was valued at $1 billion in a new investment from Greenoaks Capital, according to people familiar with the matter.

The latest production forecast for this year represents a drop of about 50,000 barrels a day from the Energy Information Administration’s previous projections in June.

“I believe the tariff on copper we’re going to make it 50%,” President Donald Trump said when asked by a reporter what the rate on those products would be.

A spokesperson said the Michigan facility is on schedule to open next year and will ultimately employ 1,700 workers as the company had projected when it downsized the project in late 2023.

An electric car by U.S. manufacturer Lucid has broken the record for the longest journey off a single charge, traveling 749 miles from St. Moritz to Munich.

Fresh off its $1.78 billion acquisition of an inspection technology firm, Wabtec said July 7 that it is buying Austrian wheel sensor maker Frauscher Sensor Technology Group.

As one of the top expenses for trucking companies of all types and sizes, tires go a long way toward determining a motor carrier’s profitability and success.

Daimler Truck said it plans to double the size of its defense business by 2030 as it seeks to profit from higher military spending globally, and will cut 5,000 jobs in Germany.

U.S. auto safety regulators are investigating whether earlier recalls of more than 1 million Ram pickups did enough to address a flaw that could lead to trucks rolling away unexpectedly.

Daimler Truck will buy back $2.34 billion of its own shares, continuing a policy of returning cash to shareholders while managing the transition to low-emission vehicles.